Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A. Which Tax Is It? Match each scenario with the tax it b TARIFF PROPERTY TAX ESTATE TAX INCOME/SOCIAL SECURITY/ MEDICARE TAXES EXCISE TAX

image text in transcribed

A. Which Tax Is It? Match each scenario with the tax it b TARIFF PROPERTY TAX ESTATE TAX INCOME/SOCIAL SECURITY/ MEDICARE TAXES EXCISE TAX SALES TAX 1) Yvonne buys gloves that cost $10.00. At the register, she must pay $10.80. 21 Sasha bought a townhouse last year. She just got a tax bill from the county showing the value of her house and the amount of tax she owes. 3) Bigmart sells boots that are made in China and boots made in the U.S. Bigmart must pay 27% tax on each pair made in China, but not on the US-made pairs. State citizens voted to add a 75-cent tax to each pack of cigarettes to pay for programs to help people quit smoking. Jake got his paycheck today. He worked 40 hours at $20 per hour. His gross pay was $800, but the amount of his paycheck was only $623.15. Clyde Cash owned two houses, three office buildings, a Bugatti Veyron, antiques, stocks, and a jet, all worth $25 million. He passed away. His heirs owe the government $9 million in taxes. B. Tax Organizer. Use what you learned in the reading to complete this graphic organizer. TAXES YOU PAY WHEN YOU BUY STUFF OUT OF YOUR INCOME ON STUFF YOU OWN Sales tax A percentage of the total price for everything in your shopping cart. Added to the price of certain items such as Tariff Added to the price of many goods made in other Countries. A percentage of the total amount of income you have for the Social Security Used to fund a medicare program for U.S. workers. Used to fund a health care program for people ane Property A tax on the value of land and property you own. Estate A tax on what you own when you die, if it is worth a very

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting

Authors: Bernard J. Bieg, Judith A. Toland

2013 edition

113396253X, 978-1133962533

Students also viewed these Mathematics questions