Friday, September 16, 2011

Common Taxes we Pay and What are They for?

We have so many forms of taxes today and all of them are being audited to us with good purpose. The government and even our Country in general, are relying upon the taxes. These will help them running and to improve their performance. Unfortunately, there are some people who take advantage of it and involve themselves into the so called "corruption" but I don't want to focus much on such matter. What I listed below are few of the most common taxes that we pay.
►Federal Tax : It is the most common and widely used tax actually. The government use these taxes for the military, school, social security, welfare programs, and for national infrastructures.
►Local Income Taxes on the other hand is used by local governments to supply police protection, establishments of public schools, health center, hospitals, street and utility maintenance, recreational facilities and charity programs for those in needs.
See? These things cannot be done without the taxes being collected from us. This is how important the taxes are so we should not neglect nor ignore this matter. After all, taxes are being paid few times a year. I really don't have any idea how taxes are being figured but others prefer to hire Bookkeeping or Tax preparation services to handle such a complicated matters. It is actually more practical to hire bookkeepers because they can calculate and analyze your taxes accurately. We are responsible to pay our own tax guys. This is all for our country this is all for our family and for our own good as well.