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* must be attest 300 words *As responsible citizens, not only is it our duty to pay taxes, it is important to understand (as much as possible) how our tax system works and how our taxes are calculated. Also, Employers are required to pay certain taxes on behalf of their employees so it’s important to understand the rules that apply to .
Watch this video “Personal Taxes-A Visual Explanation” https://youtu.be/auUcnb7vIAs?si=JkQzW7C9l6ixEfnF and read this article on “how employers should calculate payroll tax,” and answer the following question:
What was your greatest takeaway from watching this video? In other words, what did you learn that you didn’t know before?
“Different levels of income are taxed at different amounts” – In your opinion, why do we do this?
How would it impact the employee if employers did not contribute to certain taxes (such as Social Security and Medicare) on their behalf?
As a small business owner, how does this contribution affect your financial position? Think of both pros and cons.
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