Saturday, December 17, 2011

Which statement about taxes is true?

A. is the correct answer Federal taxes are based only on how much you make in a year. As the income increases the taxes in course will increase but will not decrease. Federal taxes is a percentage of your taxable Gross Income which is a standard percentage for everyone in the United States so federal taxes are not based on what state you live. The only taxes that are based on where you live is your State and township taxes. Gross income is how much taxable income you make in the tax year. Taxes are not based on your age.

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