Reference no: EM131478131
Assignemnt: Analyzing Tax Worksheet
Complete all five parts of the worksheet.
Part One: Income Tax
Use one of your paystubs to fill in the table below.
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Who Determines the Amount of Tax?
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Services the Tax is Applied Towards
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Federal Tax
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State Tax
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Social Security Tax
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Medicare Tax
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Other (Please specify)
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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.