taxation
DESCRIPTION
Taxation. Personal Finance – Ch 9. Types of Tax. Payroll Tax Sales Tax Real Estate Tax Gasoline Tax. Payroll Taxes. Tax Deductions Federal State Local/City FICA Voluntary Deductions Health Care Retirement Union Dues Tithing/Charitable Contributions. 1040 Form. Tax Forms. W-4 - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/1.jpg)
Taxation
Personal Finance – Ch 9
![Page 2: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/2.jpg)
Types of Tax Payroll Tax Sales Tax Real Estate Tax Gasoline Tax
![Page 3: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/3.jpg)
Payroll Taxes
Tax Deductions Federal State Local/City FICA
Voluntary Deductions Health Care Retirement Union Dues Tithing/Charitable Contributions
![Page 4: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/4.jpg)
1040 Form
![Page 5: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/5.jpg)
Tax Forms W-4 I-9 W-2 1040
1040EZ
![Page 6: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/6.jpg)
W4 W-4
Withholding allowances
![Page 7: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/7.jpg)
W4
Line 5 is where you write your withholding allowances.
Usually a number between 0 and 7.
Higher # =
less $ withheld
Lower # =
more $ withheld
Less chance of
tax return.Greater chance of tax return.
![Page 8: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/8.jpg)
I9 I-9: Employment Eligibility Verification
Form INS – IRS form Original identification No exceptions
![Page 9: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/9.jpg)
I-9
![Page 10: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/10.jpg)
W-2 W-2: Wage and Tax statement
All earnings and taxation from an employer listed
![Page 11: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/11.jpg)
1040 EZ 1040EZ < $50,000 income < $400 interest
![Page 12: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/12.jpg)
Filing Taxes Filing Status
Single Married, Joint File Married, Individual File Head of Household Widow/Widower w/ dependent child
Deductions Standard Itemized
Exemptions Dependents HSA & IRAs
Credits
![Page 13: Taxation](https://reader036.vdocument.in/reader036/viewer/2022081514/56815b58550346895dc93c01/html5/thumbnails/13.jpg)
Tax Rate Tax Bracket Marginal Rate Effective Tax Rate