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What else can I help you with?
What is difference between tax free and taxable income?
You don't pay tax on the tax-free pay and you do pay tax on taxable income
Do professional punters pay income tax?
all people pay income tax.
What is the difference between income tax today and income tax when it first began?
It was initially a tax on the wealthy, now it taxes the guy who works for a living more heavily than the rich who pay attorneys to construct "tax shelters". See the linked question below.
What do you pay income tax on?
Could it be your income??
Do you need to pay monthly and quarterly income tax even though you have paid the annual income tax?
yes we have to pay tds and advace tax beside anual income tax
Taxes that have wealthy people pay a higher rate of tax than average or poor people are called .?
Taxes that require wealthy individuals to pay a higher rate than average or poorer individuals are called progressive taxes. This tax system is designed so that those with a greater ability to pay contribute a larger percentage of their income, helping to reduce income inequality and fund public services. Examples include income taxes with increasing rates based on income brackets.
Do you pay income tax on inheritance?
No Federal income tax due on inheritance.
In What Ways Are Taxes Unfair To The Middle Income Group Than The Low Income Group?
The middle income taxer pays for most of the programs and government offices. Lower tax brackets pay too, but at s lesser rate. The people who come out of the tax system the best are the wealthy. They only pay about 15% compared to the middle income earner who is paying 30-35% of their income.
What is the tax rate for vacation pay?
The tax rate for vacation pay is the same as the tax rate for regular income, which is based on your total income and tax bracket.
Whats the difference between tax free income and taxable income?
You pay tax on taxable income and you don't on tax free income
Do you have to pay income tax on IRA income?
On a standar IRA, Yes (you didn't pay tax on the $ contributed or as it grew). On a Roth IRA, (where you paid the tax on the income before contribution), No.
Why did the progressives favor a Graduated income tax?
the wealthy would carry the greatest tax burden
