Let’s Talk Taxes
Taxes are essential for funding public services and infrastructure. Here’s a quick look at the three most common types:
- Federal and State Income Tax Deducted from your paycheck or paid directly if you’re self-employed. It funds things like education, healthcare, and national defense.
- Property Tax Based on the value of your property, these taxes fund local services like schools, police, and fire departments.
- Sales Tax A percentage added to the price of goods and services, contributing to state and local budgets for various public needs.