- Tax Free Savings Accounts (TFSA) are a type of tax-advantage account available to Canadian residents aged 18 and over.
- A tax-protected annuity allows employees to invest pre-tax income into a retirement plan.
- The tax-to-GDP ratio is a measure of a country’s tax revenue relative to the size of its economy.
- Taxable income is the portion of your gross income that the IRS considers taxable.
- The taxable payroll base is the maximum amount of earned income on which employees must pay Social Security taxes.
- Taxation occurs when a government or other body requires citizens and corporations to pay a contribution to that body.
- Taxation without representation may have been the first slogan adopted by American colonists irritated by British rule.
- Taxes are compulsory contributions collected by governments.
- A taxpayer can be an individual or entity that is required to pay taxes to the federal, state, or local government.
- Taxpayer Identification Numbers are nine-digit tracking numbers used by the IRS for tax purposes.