4 Types of Taxes

Front

What are taxes?

Back

Money you must pay to the government.

Front

What is a Payroll Tax?

Back

Tax taken out of your paycheck by your employer or boss.

Front

What is Property Tax?

Back

Tax on the house you own.

Front

What type of tax is Social Security and Medicare deducted from your paycheck?

Back

Payroll tax.

Front

What type of tax do you pay on your annual earnings?

Back

Income Tax.

Front

What is Sales Tax?

Back

Tax added to the price of goods and services when you buy them.

Front

What is the purpose of taxes?

Back

To fund government services and programs.

Front

What is an example of a direct tax?

Back

Income Tax.

Front

What is an example of an indirect tax?

Back

Sales Tax.

Front

Who is responsible for paying Property Tax?

Back

The owner of the property.