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Definition of income tax. Best online English dictionaries for children, with kid-friendly definitions, integrated thesaurus for kids, images, and animations. Spanish and Chinese language support available
- Tax
definition 1: a sum of money paid to a government, which the...
- Tax
A tax on the money that people make is called a personal income tax. Companies in the United States withhold, or hold back, a part of almost every worker’s pay. They send this money to the U.S. government. After the end of the year, people send in income tax returns, which are forms that tell the government how much money they made.
This video explains the concept of income tax in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about taxation, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course or K-12 curriculum.
definition 1: a sum of money paid to a government, which the government uses to pay for its services to the people and to maintain itself. Taxes are charged on what we earn and many things that we buy.
This video answers the basic question "What is Income Tax" in a simple, kid-friendly way. PLEASE SUBSCRIBE (It’s FREE!): http://bit.ly/EasyPeasyFinanceSubscr...
definition: money that you pay to a government. The government uses the money to provide services. Our taxes pay for schools, roads, and many other important things. similar words: duty. related words: charge.
Income tax laws usually allow certain deductions, money that is tax-free in that it is deducted from gross income before the tax is paid. Two of the most common deductions are personal exemptions and certain expenses.