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Q: What does it mean when a tax is imposed with the intention of creating a disincentive?
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What impose mean?

"Impose" means to force something. The dictator imposed his rule without the consent of the people.


What does FICA ER on paycheck mean?

On a paycheck, FICA stands for Federal Insurance Contributions Act. FICA is the United States Federal employment tax that is imposed to fund Medicare and Social Security.


Can you deduct the amount you pay your tax account?

I am not sure what you mean by this or what kind of tax account you may be referring to.On your federal income tax return, you may deduct payments of various types of state and local taxes that are imposed on you within limitations. These include real estate, state and local income taxes, and sales taxes (but not both sales taxes and income taxes). You may not deduct federal incomes taxes. You may not deduct interest or penalties.A few states let you deduct federal income taxes on your state return.


What do you mean by direct tax and indirect tax give suitable examples also?

A direct tax is tax paid directly to the Government, by a person whom the tax is imposed on. An indirect tax is paid indirectly to the Government, trough a third party.A direct tax would be taxes like income taxes, where a person must personally pay a certain amount to the government. Indirect taxes are taxes such as property, social security, and sales tax, where there price of tax is either deducted from wages or added onto the payment of an item. The indirect taxes are paid the Government by the business that collects the tax.


Does your credit clear up after 7 years of non activity?

I believe any debts are no longer deemed recoupable after 7 years. This does not mean it just clears up though. You will need to start creating a good debt record (i.e. lots of payments on time) before you can have a healthy credit rating. Start with a cell phone contract. Good payments on that can lead to maybe a credit card with your own bank etc. Eventually you can get a decent mortgage deal!