ALEXIS'S project*: journal entry

Thursday, June 5, 2008

journal entry

DEAR JOURNAL,
Today was the dreaded day... APRIL 15TH. The cut off day. The day we have to file our taxes. I wish we didnt have to file them. It takes so much work to go and file them, and you never know if the place you are going to file them are going to be busy.

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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*

Thursday, June 5, 2008

journal entry

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many differnt taxes

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