Send the link below via email or IMCopy
Present to your audienceStart remote presentation
- Invited audience members will follow you as you navigate and present
- People invited to a presentation do not need a Prezi account
- This link expires 10 minutes after you close the presentation
- A maximum of 30 users can follow your presentation
- Learn more about this feature in our knowledge base article
Do you really want to delete this prezi?
Neither you, nor the coeditors you shared it with will be able to recover it again.
Make your likes visible on Facebook?
You can change this under Settings & Account at any time.
Transcript of TAXES
as income increases, amount taken in taxes increases
ex: the 7% tax on the purchase of a new car impacts Joey a lot more than it impacts Susie!
How the government
types of taxes
of income is taken
ex: someone who makes $10,000 pays 5% in taxes
someone who makes $50,000 pays 6% in taxes
makes $10,000 a year. tax will be $700
makes $1,000,000 a year. $700 tax doesn't matter as much!
specific taxes you may see...
the more you make, the less tha tax affects you
ex: 12.4% of paycheck taken for Social Security (FICA)
percentage of income taken (state/national govt)
Social Security and Medicare
(taken from paycheck)
on the manufacture of certain goods (tobacco, gas)
on property or items given to you when someone dies
on a gift
(worth over $10,000)
on property value land, buildings, etc)
The sales tax on a $20.00 is 7%,
or $1.40. This tax is a bigger burden for Josh, who has a $15,000 income than for Aaron who has a $150,000 income.
What type of tax is this?
Your department store receipt says that you paid 5% sales tax on equipment.
This sales tax is an example of a
Your paycheck says that you paid a 7% tax on your income. This income tax is an example of a
ex: income tax
ex: sales tax