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Tax and Tax Information * Income Taxes
Income Taxes: What Do They Go?
Carl LaFresnaye
Remember the Boston Tea Party? In 1773, the king in England and his Parliment had just initiated the Tea Tax – and the settlers didn't accept it.
Many of them dressed up as Indians, boarded a trade ship from England with tea on it, and pushed a whole lot of the tea (it was the cargo) overboard. It was their way of rebelling against the new tax. Because the king believed it was Indians, nothing was done to those settlers, but it didn't stop the tax. This tax came about the same time period as the Stamp Act and the Sugar Act (which both lowered taxes), but this was just too much.
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Sources: NJ Gov's Budget Suspends Tax Rebates (6abc Philadelphia)
New Jersey Gov. Chris Christie is preparing to introduce a budget that suspends property tax rebates, cuts more than $1 billion in aid to schools and towns and skips a $3 billion contribution to the state...
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Taxes have never been popular, as the Tea Tax showed, but taxes are a “necessary evil” in our modern society. The payment of income taxes funds the government in many ways. Let's take a look at some of them.
Not Just A Little Red Schoolhouse
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Sources: NJ Gov's Budget Suspends Tax Rebates (6abc Philadelphia)
New Jersey Gov. Chris Christie is preparing to introduce a budget that suspends property tax rebates, cuts more than $1 billion in aid to schools and towns and skips a $3 billion contribution to the state...
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The first type of public education in America was a one-room schoolhouse, where all the grades were educated together – when it wasn't harvest time. The room was fueled with a wood stove, and the students used Our public education is funded by our income tax money. Though some people choose to homeschool or send their children to a private school, the vast majority of Americans attend public school for at least a portion of their education. Though many people don't like our public education program – especially in comparison to other countries – at least it does get many students educated fairly well.
I Don't Know What You've Been Told...
...But the military is also funded by the government, specifically from our income taxes money. Whether you are for or against the war, most people would agree that it is important for American to maintain a strong military. And what funds the military? The money we pay as income taxes.
Respecting Your Elders
In our country, we pay money in to the Social Security program our whole working life. They just automatically take it as a deduction from our paychecks – whether we want them to or not. That money is set aside to give back to us when we're old and gray and can't work anymore. At least, in theory it is. In reality, the money is given to other people, older and grayer than we are, who are already receiving Social Security payments. The idea is that our children, when they work, will be funding our Social Security. It should work out just fine. But in reality, often the money input into the system isn't enough to cover the number of people now receiving Social Security payments – and so our government is paying a lot of that. You got it – it comes from our income taxes.
What Other Authors say about Taxes
Where To Find Tax Help
by Carl LaFresnaye
Once upon a time, doing your taxes was a job for professionals only, like brain surgery or nuclear science. Nowadays software is available that allows you to file your taxes yourself, giving all sorts...
How Can Sales Tax Save You Money?
by Steve Dolan
It's that time of the year again... tax time! It may not be one of the more enjoyable times of the year, but it is definitely one of the more important dates on the calendar. Hopefully, you have listened...
A History of the Income Tax in the U.S.
by Garry Gamber
After the United States declared its independence and fought the Revolutionary War, the U.S. Congress relied on excise taxes on alcohol, tobacco and a few other products for revenue to pay off its war...
Get Help From A Tax Attorney
by David C Skul
All the people have to handle tax problems, which can be very difficult if you have to manage these troubles by yourself. And things can get worse if one day the IRS comes knocking on your door. You don't...
All About Late Filing Of Federal Taxes
by Carl LaFresnaye
The IRS allows for late filing of federal taxes provided the appropriate paperwork is filled out (there's always paperwork!). This simple guide shows you how to go about it.
Forms for Late Filing of...
How Will You Spend Your Tax Refund?
by Carl LaFresnaye
Taxes – everybody hates them. The government takes from your paycheck every weekIt can be frustrating to see how much they get right off the top. Some of that youll never see again, but your federal and...
Fraudulent Tax Shelters - KMPG Goes Down Hard
by Richard A. Chapo
In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars,...
Sources Of Tax Deductions
by Carl LaFresnaye
Taxes are expensive! And though we don't mind paying “our fair share,” everyone is happy when they find a way to reduce their taxes. One of the simplest ways to reduce the taxes you will owe is to have...
Options For Filing And Reporting Small Business Taxes
by Gary Ruplinger
Large and small businesses all around the United States are required to file and pay taxes. Small business taxes are applied and determined differently than those of larger corporations. To accurately...
Gambling Income and Expenses - Taxes
by Richard A. Chapo
Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limited...
Small Business Tax Credit - Americans with Disabilities Act
by Richard A. Chapo
Many small businesses complain when confronted with the expense of complying with the Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset...
Who are the CPA Moms? Your Tax Professional Forever!!!!
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“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
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Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
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To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
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Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
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Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
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For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon. To Join CPA Moms
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Index of Articles about Taxes
What Other Authors say about Taxes
Where To Find Tax Help
by Carl LaFresnaye
Once upon a time, doing your taxes was a job for professionals only, like brain surgery or nuclear science. Nowadays software is available that allows you to file your taxes yourself, giving all sorts...
How Can Sales Tax Save You Money?
by Steve Dolan
It's that time of the year again... tax time! It may not be one of the more enjoyable times of the year, but it is definitely one of the more important dates on the calendar. Hopefully, you have listened...
A History of the Income Tax in the U.S.
by Garry Gamber
After the United States declared its independence and fought the Revolutionary War, the U.S. Congress relied on excise taxes on alcohol, tobacco and a few other products for revenue to pay off its war...
Get Help From A Tax Attorney
by David C Skul
All the people have to handle tax problems, which can be very difficult if you have to manage these troubles by yourself. And things can get worse if one day the IRS comes knocking on your door. You don't...
All About Late Filing Of Federal Taxes
by Carl LaFresnaye
The IRS allows for late filing of federal taxes provided the appropriate paperwork is filled out (there's always paperwork!). This simple guide shows you how to go about it.
Forms for Late Filing of...
How Will You Spend Your Tax Refund?
by Carl LaFresnaye
Taxes – everybody hates them. The government takes from your paycheck every weekIt can be frustrating to see how much they get right off the top. Some of that youll never see again, but your federal and...
Fraudulent Tax Shelters - KMPG Goes Down Hard
by Richard A. Chapo
In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars,...
Sources Of Tax Deductions
by Carl LaFresnaye
Taxes are expensive! And though we don't mind paying “our fair share,” everyone is happy when they find a way to reduce their taxes. One of the simplest ways to reduce the taxes you will owe is to have...
Options For Filing And Reporting Small Business Taxes
by Gary Ruplinger
Large and small businesses all around the United States are required to file and pay taxes. Small business taxes are applied and determined differently than those of larger corporations. To accurately...
Gambling Income and Expenses - Taxes
by Richard A. Chapo
Hit a big one? With more and more gambling establishments, keep in mind the IRS requires people to report all gambling winnings as income on their tax return.Gambling income includes, but is not limited...
Small Business Tax Credit - Americans with Disabilities Act
by Richard A. Chapo
Many small businesses complain when confronted with the expense of complying with the Americans with Disabilities Act. Most do not realize that there are a number of tax incentives available to offset...
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