The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>Other Taxes

Taxes? What is the point?


What EXACTLY is the point of taxes? And how old do you start paying them or what exactly?

The day you are born if you meet the filing requirement.
A dependent child must file if the unearned income (interest, dividend, stocks sale) is more than $850. There are other requirements, if child has self employed income or earned income.

well when you get a job and under 18 you can file..if you are working and are over 18 you have to

and the POINT is so we can have things paid for..such as roads, schools, police officers, ...we have to pay for that stuff..its not free...the money doesnt come out of thin air..

Taxes is the money government uses to fund everything from roads, cities, police, fire fighters, army, navy, air force, homeland security, public places, public transportation and others. It's also use for the politicians to live lavish lives at your expense. And you start paying taxes as soon as you start making money on US soil, buy a house or win money.

Being under or over 18 doesn't matter for taxes, it's how much money you make for the year that says whether you have to file. You can be one year old, and if your income is high enough, you have to file.

Taxes pay for government functions.

You pay taxes because you are bound by the law to do so. Taxes support the government which is supposed to keep us from becoming barbarians.
Anything you want to know about taxes you can find out at www.irs.gov.
Hint: It's not how old your are but how much you make and how you make it.

What's the point? It takes money to run the government, or haven't you figured that out?

You start paying taxes as soon as you have to, pure and simple. You started paying sales tax as soon as you started spending your allowance. And you pay income taxes as soon as you have enough income to be required to file. There are infants who have to pay taxes -- filed by their parents, of course, until they're old enough to do it themselves. I filed my first tax return at age 12.

Tags
  Boston   Austin   Atlanta   Other - Business & Finance   Other Taxes   United States Taxes   United Kingdom Taxes   Spain Taxes   Singapore Taxes   Mexico Taxes   Ireland Taxes
Related information
  • Lowest Tax (on Bank Interest) in the World?

    Are you planning on permanently relocating abroad in order to pay a lower rate of tax? There are far more complexities than just how much tax you are paying on savings (unless you are not planning...

  • Confused about 1099B?

    yes you should report this on a schedule D. Since you say that those profits were shown on her W-2, you will report on schedule D as an even or negative gain (depending on your actual basis). If ...

  • I need Help............?

    Well D are correct. Better say a * 1.06 Will be her new allowance. (a times 1.06) Example, 5 before 5.30 after If she is only making a dollar, one dollar, then B will be correct a...

  • What is the difference between EVA and FCF?

    Hi Zarina..............EVA is actually Economic Value Added and FCF is Free Cash Flow Well, Economic Value Added or EVA is an estimate of true economic profit after making corrective adjustmen...

  • What are the imp. provisions of fema ?

    ...

  • Is the federal government issuing out refunds in the amount of $500.00 for 6 months into individuals bank acct

    No, there's no such refund. If someone told you they are and asked for your bank account info, sounds like they are trying to scam you. A number of years ago, when the child tax credit was...

  • Questions regarding taxes?

    A high marginal tax rate means that for every additional dollar you earn, the government will tax it at a higher rate than your "lower" income. For example, your first $25,000 is taxed a...

  • How does an auditor treat a capital gain while auditing?

    Auditors don't treat it as anything other than what it is. The accountant might have a view on it though!

    ...
  •  

    Commerce Categories--Copyright/IP Policy--Contact Webmaster