Can you help me understand taxes?
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reece
Apprentice
Joined: 13 Aug 2007
Posts: 10
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 Posted: 11/27/07 - 05:13 Post subject: |
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| I have recently started my new business and this is the first time I will have an opportunity to handle taxes completely on my own. I would like some help to understand the taxes. What is exactly the purpose of my paying them? If anyone could give me any suggestion, that would be great. Thanks in advance. |
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quentin
Apprentice
Joined: 02 Nov 2004
Posts: 7
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| Posted: 12/27/07 - 04:39 Post subject: |
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| Taxes are a percentage of the income you are getting each year, or on the specific transactions for which you also gain some money. Generally speaking, this is the money you are paying to your state, and thanit is redistributed to some area of investment, salaries, pensions, or anything that can contribute to the society you live in. There many types of taxes, but you will never be taxed if you make a loss. For some more info, I suggest you go to http://money.howstuffworks.com/income-tax3.htm. |
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