Taxes

Taxes – the money that people and businesses pay to the government in exchange for things like schools, roads, and public services

Some common forms

• Income Tax: This is a tax on the money you earn from working. The percentage of your income taxed depends on the amount of money you earn and what income bracket you are in.
• Sales Tax: This is a tax on goods and services that you buy and, in the US, it can vary by state.
• Property Tax: This is a tax on the value of property you own, and also varies depending on where you live.

These are just a few examples of the many different types of taxes that exist. Other types include capital gains tax, corporate tax, payroll tax, excise tax, and estate tax, to name a few.