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PRESENTATION OUTLINE

TAXES

MONEY THAT THE GOVERNMENT TAKES OUT OF YOUR PAY CHECK TO PAY FOR STUFF
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A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures.




What are taxes

Photo by Andreas.

WHAT IS A COMMUNITY

  • a group of people living in the same place or having a particular characteristic in common.

BENEFITS OF PAYING TAXES

  • The money you pay in taxes goes to many places. In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters. Tax money helps to ensure the roads you travel on are safe and well-maintained. Taxes fund public libraries and parks.

WHAT IS A INCOME TAX

  • tax levied by a government directly on income, especially an annual tax on personal income.

What is a payroll tax

  • Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.

WHAT IS PROPERTY TAX

  • If you own a house the tax is levied by the governing authority of the jurisdiction in which the house is located.

WHAT IS A SALES TAX

A TAX ON SALES OR ON THE RECEIPTS FROM SALES.

What Is An Excise Tax

An excise or excise tax is any duty on manufactured goods which is levied at the moment of manufacture, rather than at sale.

WHAT IS A W2

  • The W-2 form is the form that an employer must send to an employee and the Internal Revenue Service (IRS) at the end of the year.

What is a W-4 Form?

  • When you get a new job, one of the many pieces of paper your employer will ask you to complete is IRS form W-4, Employee's Withholding Allowance Certificate.

What date do you have to pay your taxes by?

APRIL 15

What are the two most important things to know about taxes

  • When to pay them
  • How much you are paying