Potential financial risks of avoiding taxes illegally

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Reference no: EM132481432

1. What are the potential financial risks of avoiding taxes illegally?

2. What is the difference between a marginal tax rate and an average tax rate?

3. Describe why it is important to pay federal income taxes, state income taxes.

4. What services are funded by these taxes?

5. What can you do to try to save money on taxes? **Remember, trying to reduce your taxes is legal, but evading taxes is not.

Reference no: EM132481432

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