homework asap

pos301.r_topic7worksheet_1-5-15-2.docx

Complete all five parts of the worksheet.

Part One: Income Tax

Use one of your paystubs to fill in the table below.

	Who Determines the Amount of Tax?	Services the Tax is Applied Towards
Federal Tax
State Tax
Social Security Tax
Medicare Tax
Other (Please specify)

Part Two: Sales Tax

Use a receipt for a purchase you have made recently to answer the questions below.

1. List all of the taxes (percent, amount, etc.) found on the receipt.

2. Who determines the amount of each tax?

3. Where does revenue from this tax go? What does it fund?

Part Three: Utility Tax

Use one of your utility billsto answer the questions below.

Part Three: Utility Tax

Use one of your utility bills to answer the questions below.

1. List all of the taxes (percent, amount, etc.) found on the bill.

2. Who determines the amount of each tax?

3. Where does revenue from this tax go? What does it fund?

Part Four: Property Tax

Use one of your own property tax statements to answer the questions below.

1. List all of the taxes (percent, amount, etc.) found on the statement.

2. Who determines the amount of each tax?

3. Where does revenue from this tax go? What does it fund?

Part Four: Summary and Analysis

Part Five: Summary and Analysis

Write a 200-350-word summary below of your findings and what you have learned about how you are taxed.