ALEXIS'S project*: editorial/opinion

Tuesday, May 20, 2008

editorial/opinion

Taxes are important but some familes are in finacial crises and can't afford to pay them. So many families are in debt that it is hard to keep up with the taxes. Taxes are important because they pay for our firefighters, water, and many more important things in our cumunities, towns, and cities!. Taxes are good and bad.

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many differnt taxes

Income Taxes~ The United States income tax is usually the first thing people think of when they hear the word tax
Business taxes~ Also known as corporate taxes, these are direct taxes levied on the profits of businesses
Payroll Taxes~These are the taxes that must be deducted from wages paid to employees, and the employer usually must match the amounts.
Capital Gains Taxes~ In the United States a tax is levied on all income generated from a taxpayer’s capital gains, which are profits from the sale of an asset that was purchased at a lower price.
Inheritance Taxes~ The inheritance tax – a/k/a the “death tax” – is a tax that arises from the death of a taxpayer. It is imposed on the transfer of any property or asset transferred as the result of a death.
Sales Taxes~ Consumption taxes – a/k/a sales tax – are levied at the point of purchase for specific goods and services.
Property taxes~ Property taxes are imposed on property by reason of its ownership. Typically, these taxes are paid on real estate
Excise Taxes~ Any tax that is based on the value of the product being taxed is considered an excise tax. They are based on the quantity of the product.
Gift Taxes~ A gift tax is a one that is levied on the transfer of property by one taxpayer to another while receiving either nothing or something with a less than equal value in return.
Retirement Taxes~ All taxes levied by the government to plan for a taxpayer’s retirement could be considered retirement taxes.
Tariffs~ An import or export tariff is one that is paid by the movers of any good through a political border.
Tolls~ Tolls are fees charged to drivers who cross through designated bridges, tunnels, and even some roads.

ALEXIS'S project*

Tuesday, May 20, 2008

editorial/opinion

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many differnt taxes

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