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Delta College

This chapter discusses the importance of understanding taxes and how they influence business, investment, personal, and political decisions. It defines what constitutes a tax and describes different tax structures and rates. Key points include: - Taxes are payments required by the government unrelated to specific benefits received. - Tax rates can be marginal, average, or effective and are usually expressed as a percentage of the tax base. - Tax structures can be proportional, progressive, or regressive depending on how rates change with the tax base. - Major taxes include federal income, employment, excise, and estate/gift taxes as well as state/local sales, property, income, and excise taxes.

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Chapter 1 An Introduction to Tax Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
Learning Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],1-
Who cares about taxes? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1-
Who cares about taxes? ,[object Object],[object Object],[object Object],1-
Who cares about taxes? ,[object Object],[object Object],[object Object],[object Object],[object Object],1-
What qualifies as a Tax? ,[object Object],[object Object],[object Object],[object Object],[object Object],1-
Tax Question? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1-
Examples ,[object Object]
Examples (cont.) ,[object Object]
Examples (cont.) ,[object Object]
Examples (cont.) ,[object Object]
Examples (cont.) ,[object Object]
Examples (cont.) ,[object Object]
How to calculate a Tax? ,[object Object],[object Object],[object Object],[object Object],1-
Different ways to measure tax rates ,[object Object],[object Object],[object Object],1-
Tax Rates Example ,[object Object],1-
Tax Rates Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1-
Tax Rate Structures ,[object Object],[object Object],[object Object],1-
Tax Rate Structure Question ,[object Object],1-
Tax Rate Structures Example 1-
Examples ,[object Object]
Examples (cont.) ,[object Object]
Examples (cont.) ,[object Object]
Examples (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Types of Taxes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1-
Federal Taxes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1-
Federal Taxes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1-
State and Local Taxes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1-
State and Local Taxes ,[object Object],[object Object],[object Object],[object Object],1-
Implicit Taxes ,[object Object],[object Object],[object Object],1-
Example ,[object Object]
Example (cont.) ,[object Object]
Example (cont.) ,[object Object]
Example (cont.) ,[object Object]
Example (cont.) ,[object Object]
Example (cont.) ,[object Object]
Example (cont.) ,[object Object],[object Object]
Example (cont.) ,[object Object]
Example (cont.) ,[object Object],[object Object]
Example (cont.) ,[object Object]
Example (cont.) ,[object Object],[object Object]
How to evaluate different tax systems? ,[object Object],[object Object],[object Object],[object Object],[object Object],1-
Sufficiency ,[object Object],[object Object],[object Object],[object Object],[object Object],1-
Equity ,[object Object],[object Object],[object Object],1-
To Do… ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Chap001

  • 1. Chapter 1 An Introduction to Tax Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
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  • 20. Tax Rate Structures Example 1-
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