Income Tax is a tax based on the amount of money earned.
The tax on 105000 depends on what tax category that amount of money is spent on. If the money is for wages earned the rate would be different than if it was the amount of money spent on a house. There would also be a different tax rate if this was a tax on a vehicle purchased.
A deduction taken out of payroll for something, reducing the income tax is applied to. Hence you get to pay that item with "pre tax" money...which is cheaper than after tax money.
No, you do not get tax money (or a tax credit) when you buy your first house. As of July 2013, the tax credit for buying your first house is no longer in affect.
Yes, IRA distributions are taxable. You do not pay tax while the money is in the account, but you pay tax when you withdraw the money.
Tax, Wages, sundry expence, tax, Japan, China and tax.
No
My Back Pocket.
somewhere "OVER THE RAINBOW"
congress congress
Not all income tax goes to the Federal reserve but all money that goes to the Federal reserve comes from income tax.
It depends on the locality. In many U.S. states, some of the money goes to education.
It goes to the government, police stations, or fire departments.
no because tax and it can lend money from other countries
The government collects the tax money.
In Australia the money is used to compensate consumers for rising prices. This is done by a regular payment.
Income Tax is a tax based on the amount of money earned.