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Taxes: Incomes
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As the old saying goes, nothing is certain in life except for death and taxes. Local, state, and federal governments impose taxes on earnings, manufactured goods, and activities. There are two main types of government-imposed taxes: direct tax and indirect tax. Income taxes fall under the category of direct taxes. Indirect taxes are taxes collected from the cost of goods and services. Taxes help replace a significant amount of money that the government spent, usually on goods and services that benefit the public in some manner.
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Besides the variations in local and state taxes, each state differs in what it contributes in federal taxes. That's determined by income. Those who earn more money generally pay a greater percentage of it in federal taxes, so states with a greater percentage of highly paid workers end up paying more. The state that pays the most in combined state, local and federal taxes, per capita, is Connecticut (35.9%), followed by New York (35.1%), New Jersey (34.3%) and Washington (33.7%). Alabama pays the least (27.5%), followed by Alaska (27.9%) and Mississippi (28%).
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Armoires, hutches, and wardrobes were employed to evade taxes on doors and cabinets. In extraordinary circumstances, taxes are ... used to enforce public policy like congestion charge (to cut road traffic and encourage public transport) in London. In Tsarist Russia, taxes were clamped on beards. Today, one of the most complicated taxation-systems worldwide is in Germany. Three quarters of the world's taxation-literature refers to the German system. There are 118 laws, 185 forms, and 96,000 regulations, spending €3.7 billion to collect the income tax.
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House Bill 1B will provide relief on 2007 property taxes for all property owners, including homeowners and those who own second homes, rental homes or commercial properties. Tax rates are reduced to last year's level, and further cuts are based on each local government's past property tax increases. For example, property owners in communities where the property taxes increased at higher rates will receive bigger tax cuts. Additionally, the legislation will limit future growth of property taxes to the change in personal income.
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[S]elf-employed workers still have to pay taxes, just like everyone else. And they don't have the luxury of waiting until April 15 to pay all of their taxes for the previous year -- the IRS wants its money faster than that. Independent contractors have to pay tax on their estimated annual incomes in four payments, spread out over each year. These payments are called estimated taxes and are used to pay income taxes and self-employment taxes (Social Security and Medicare taxes).
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Expatriates living in Germany can be subject to German taxes, especially if they have German source income. The German tax system is similar to the structures in other western countries. You pay income taxes throughout the year, usually with an employer deducting tax from each paycheck. Adjustments are then made at the end of the year for possible under or overpayments.
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