WHAT I KNOW ABOUT TAXES

• Everybody has to pay taxes in some type of way.
• There are many different types of taxes.

WHAT ARE TAXES

• Taxes are the amount of money payed to the government to pay for stuff that we would be able to pay for ourselves.

WHAT IS A COMMUNITY

• A community is a group of people who work together for a common good.

BENEFITS OF TAXES

• Better roads
• Quality education
• Libraries
• Safety; police and firemen and military
• Parks and recreation

INCOME TAX

• A tax on earned and unearned income.

pAYROLL Tax

• a tax on earned income that supports the SOCIAL SECURITY AND MEDICARE PROGRAMS.

PROPERTY TAX

• A TAX ON PROPERTY, SUCH AS, LAND, BUILDINGS, HOMES, AND MOTOR VEHICLES.

SALES TAX

• A TAX ON ITEMS PURCHASED IN RETAIL STORES.

exise tax

• a tax charged on consumption items.

w-2 form

• You will need to report all wages you earned from your job or jobs during the year.
• wage and tax statement.

w-4 form

• Determines the percentage of gross pay which will be withheld for taxes
• Employee’s Withholding Allowance Certificate

tax pay date

most important things to know about taxes

• eVERYONE pays them, there are different types of them.
• not everyone's tax deductions will be the same
• they help to provide a better way of living.