What is the role of taxes and taxation?

Answer Taxes produce revenues that pay for everyday vital government services, from running local schools, to paving roads, to providing public water supplies, along with big national programs such as def... Read More »

Top Q&A For: What is the role of taxes and taxation

What is the role of taxes?

The role of taxes is to provide revenue that the government can use to provide services. As most individuals are not capable of providing national defense, for example, a common pool is created to ... Read More »

What is Schedule E in taxation?

Taxpayers use IRS Form 1040 Schedule E to report income or losses from a variety of sources. The most common are real estate rentals, estates, trusts, partnerships and S corporations.RentsUse Part ... Read More »

What is schedule D Taxation?

Schedule D is the Internal Revenue Service (IRS) tax form that allows you to figure your capital gains. Your capital gains may be taxed differently than regular income.TypesAny time you sell someth... Read More »

What is progressive taxation?

Progressive taxation refers to taxes that charge a higher percentage rate for people who have higher income levels. Other types of taxes include flat taxes and regressive taxes.ExampleThe United St... Read More »