Coins and Paper Money
Taxes and Tax Preparation
Income Taxes

When do you pay more tax?


Top Answer
User Avatar
Wiki User
2009-05-07 23:31:02
2009-05-07 23:31:02

Comparatively when you have more income or less deductions/exemptions.

User Avatar

Related Questions

The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.

regressive tax encourages earning. this is such that as for the case of progressive tax whereby the more you earn, the more taxes you pay in the case of regressive tax, the more you earn the more you get to keep.

In Afghanistan if your monthly salary is 5000 afs ($100) or less, you don't pay any income taxes. If it's more that 5000 afs you pay 2 percent in tax, if you earn more than 12,500 afs you pay 10 percent in tax, if you earn 100,000 afs, ($ 2000) and more, you pay 20 percent as income tax. But does everyone really pay his taxes?

The more taxable income they have, the more they pay

Compare TurboTax Software and provides extra guidance to simplify tax preparation were people pay to pay you. tax software cost more. this really makes tax money.

The United States has a progressive tax method. This means that the more your earn to more tax percentage of your income you pay. This is a dangerous type of taxation in that we are approaching a time when almost 50% of the population pay no income taxes at all.

The Federal income tax is a progressive tax because the more a person makes in revenue, the more tax they will have to pay. The tax level or percentage is higher for those with a higher income, too.

Hong Kong uses aggressive taxation, it means the more money you make, the more tax you pay. Middle class in HK pay no more than 20% a year, and there is no sales tax. Hong Kong has one of the lowest tax rates regions in Asia.

The Canadian tax structure is usually progressive. This means that the more money you earn, the higher the tax that you will pay.

put more money back into the pockets of people who pay tax, before the tax rate cut was introduced.

You don't pay tax on the tax-free pay and you do pay tax on taxable income

people don't like to pay more taxwhen people pay more tax they have less money to spend, which might eventually hurt more than the extra tax helped.

Yes, but you pay the sales tax to the state you register it in. Where you live. They will make you pay it when you get your license plates. You find more at

the progressive tax system is the ideal one because it would not be unfair to the people whose income are less because the more you earn, the higher your tax rate.So it means that people who earn less will pay less tax rate while those people who earn more will pay more tax rate. That's the good thing about progressive tax system.

do you have to pay tax on inheritance

Click on the link below for more information.

I am a survivor on a jtwros account. Do i pay tax if it is under @600.000. Or do i just pay tax on the interest?

no -- it is a regressive tax; earn more, pay more; capitalism is the opposite: work more, earn more, keep more.

Self-employment income. A person with income from Self-Employment files Refer to Tax Publication 334, Tax Guide for Small Business, for information. When there is no federal withholding taken out of your self-employment income, you may need to make quarterly estimated tax payments. This is done using a Form 1040-ES (PDF), Estimated Tax for Individuals. How Do I Pay Income Tax? Federal income tax is a pay-as-you-go tax. You must pay it as you earn or receive income during the year. An employee usually has income tax withheld from his or her pay. If you do not pay your tax through withholding, or do not pay enough tax that way, you might have to pay estimated tax. You generally have to make estimated tax payments if you expect to owe taxes, including self-employment tax (discussed later), of $1,000 or more when you file your return. Use Form 1040-ES to figure and pay the tax. If you do not have to make estimated tax payments, you can pay any tax due when you file your return. For more information on estimated tax, see Publication 505, Tax Withholding and Estimated Tax.

It's more common that people would term it "counted toward the RMD" as the RMD is a minimum that you must get to. You withdraw from the account and pay tax on the withdrawal amount. If you want to use some of it to pay the tax, it is only withdrawn once. If you want to withdraw more to pay the tax, it too is a withdrawal. If you want to pay the tax using other money, that's fine, it isn't a withdrawal.

It goes up or down corespondingly to your tax code. If Tax goes up, net pay as a percentage of your income goes down. In reality, tax codes only go up when you earn more money therefore although you are paying more in taxes your net pay still goes up.

you have to pay more tax so the government can pay traetment to the nhs for people who get ill

with its free then we have to pay more tax. i would rather to pay for public transport

Copyright ยฉ 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.