Complete Consumer Math Discussion Post

User Generated

ubzrjbexpbafhgyvat

Mathematics

Description

Taxes

Taxes are part of all our lives. In this discussion you have the opportunity to look at one particular type of tax. Choose between finding property tax, sales tax or income tax. Share your thoughts on paying taxes and post your answers to one of the three questions listed below.

  1. Calculating Property Tax
    Go to http://dat.maryland.gov/realproperty/pages/HomeOwners-Guide.aspx. What would be the county tax on a property in Dorchester subdivision assessed at $240,000? In Allegany subdivision, what would be the difference in county property tax on a $400,000 property in Barton and one in Frostburg?
  2. Calculating Sales Tax
    Go to https://www.taxadmin.org/state-tax-forms. It's August and you need to buy school clothes and supplies for your five children. You live in the northwestern corner of Connecticut, within easy driving distance of both Massachusetts and New York State. What would the sales tax in each state be on a total of $830 worth of purchases? If shopping outside the state would cost around $20 in gas, in which state would this shopping trip cost the least?
  3. Calculating Income Tax: Married Couple
    Go to www.irs.gov/pub/irs-pdf/i1040tt.pdf. The 2010 tax tables (or current year) will come up as a pdf file. What is the tax for a head of household with a taxable income of $31,430? How much tax would a married couple filing jointly pay on $66,980? What about if they filed separately?

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

1

Running Head: TAXES

Taxes
Student’s Name
Institution

2

TAXES
Taxes
Property Tax
This is the tax levied on the value of a property especially real estate. The governing
body taxes the property located on its area of jurisdiction. Most of the time the governing bodies'
in charge maybe federal, county or state governmen...


Anonymous
Very useful material for studying!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags