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Q: What does our tax money pay for?
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What is a tax that you pay on the money you earn?

To answer your question, the taxes you pay on the money you earn (salary, income) is called income tax.


Does IRS tax regular IRA distributions?

Yes, IRA distributions are taxable. You do not pay tax while the money is in the account, but you pay tax when you withdraw the money.


What type of business needs to pay tax and what type of business do not need to pay tax?

you pay from your job money


How much tax do ypu pay on 26000?

on an estate settlement how much money in tax will i pay on $26000.00


Do the wealthy pay income tax?

The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.


If you receive money from your grandparents do you have to pay tax?

No. They may have to pay gift tax. See discussions under that topic.


Who or what will pay for the royal wedding?

The Tax's they take out of your Money.


When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

A. A tax refund


Do you have to pay tax on money earned by providing a service?

Yes I am afraid so.It does not matter how you make income you have to pay tax on it.


What is the difference between Roth IRA and a traditional IRA?

A Roth IRA is funded with after-tax money and you do not pay taxes when you withdraw the money. A Traditional IRA is funded with pre-tax money and you pay taxes when you withdraw the money.


Where does the council get its money from?

The council gets their money mainly from tax payers. They pay for roads so they can drive on them and park on them and they pay for a lot more as well and that is where the council get their money..its all thanks to tax payers.


Where would the government get the money to pay off our debt?

From the tax we pay for the food we buy.