Tax Management

Choose 2 examples of what taxes are used to pay for.

• The military

• School buildings

• Newspapers

• Cellphones

Taxes are paid to...

• Teachers

• The military

• The federal, state, and local government

• The President of the United States

What are Taxes?

• A Sum of money that the Federal government pays its citizens for good behavior.
• A Sum of Money that the State Mandates its Businesses pay in order to support the cleaning of their parking lot. 
• A Sum of Money that the Federal Government charges its citizens to clean up their messes. 
• A sum of money that the State or Federal Government mandates its citizens pay in order to support the government itself and all of its services. 

What is Medicare

• A retirement supplement program
• A VA benefits program
• A program for Low-Income Families
• A medical program for senior citizens

What is Property Tax

• Tax on Land, Vehicles and Property
• Tax on Government Buildings
• Tax on Businesses
• Tax on Educators

Fern is a landlord and owns 5 apartment buildings where she rents apartments out to families in each building. What kind of tax does Fern have to pay on the apartment buildings?

• Sales
• Payroll
• Income
• Property

What is income tax?

• Tax based on money you have earned

• Tax based on unearned money

• A tax on land, buildings,and houses

• A tax when you purchase a good or service

Different states have different amount of percentages for sales tax

• True

• False

The less money you earn , the more you have to pay on income tax

• True

• False

A tax on purchased goods and some services

• property tax

• payroll tax

• sales tax

• income tax