Taxes 2/6/24

Our tax money is spent on all of the following EXCEPT:

• Social Security

• The Military

• Private School Education

• National Parks

Tags

CCSS.6.RP.A.3B

The W-4 form lets...

• the government know how much you paid in taxes last year

• your employer know how much to withhold from your paycheck

• the 3 major credit bureaus know how many dependents you have

• you know how much you paid in taxes last year

By claiming "exempt" on the W-4 form...

• You are paying all income taxes upfront at the START of the year.

• You are requesting an extension to file your taxes

• You will NOT have income taxes withheld from your paycheck.

• You are paying all income taxes at the END of the calendar year.

What do you need to file your 1040 form?

• Your W-2

• Your W-4

• Your prior year's tax return

• Income of $50,000 or more

In this tax structure you pay a greater percentage of the value of the tax base as that value increases. Our Federal Income Tax is paid in this manner.

• Progressive Tax

• Regressive Tax

• Proportional or Flat Tax

• Excise Tax

Tags

CCSS.8.EE.C.8A