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Universes
Posted Wednesday, March 13, 2024
1y
ISTJ
Capricorn
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Jen*
1y
ENFJ
Sagittarius
And every UK citizen too 😭 nothings guaranteed in life except death and taxes! 🤣🤣😫😫 (edited)
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P
1y
INTJ
Sagittarius
Not sure if serious. If Americans want an answer to these questions, the TL;DR is that we have a variety of levels of government that affect different locations differently and have different ways of attaining income for themselves. For the USA... Income tax may be both federal and local (state / county / city). Not all localities have income tax. Not everywhere has sales tax. Not everything has sales tax on it (generally in an attempt to make sales taxes less regressive). Sales taxes are generally local and generally pay for local things. You do not pay income tax on income already taxed. There are two possible roads to that conclusion here that i am aware of... you pay (or receive payment) by april 15 because the actual tax collected on a per paycheck basis does not align to the actual tax you would be expected to owe (for a variety of reasons that are not necessarily relevant), so the payment or money received on april 15 is a correction. There is a weird argument that income generated from investment has already been taxed, but you are taxed on the income generated from the investment not the initial value according to the times I have stepped through the calculation. Property taxes are state or local, and you are paying those because you are a property owner in the jurisdiction. Not all places have property tax, just as not all places have sales tax. The tax paid on selling property also may be a capital gains tax (which may be able to be deferred by buying other property), not sales, depending on location. Paying sales tax on the purchase is irrelevant to paying property taxes, as they go to different places for different things. That is, the government income from one is not necessarily relevant to the other, even if they both exist for the same level of government.
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Jonathan
1y
INTP
Libra
Because, well, jail. Incidentally, also paid for with our taxes (edited)
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