Progressive Tax System Questions
What are Progressive Taxes?Progressive taxes are taxes that come from income that sets increased taxes burdens on people that gains household earnings that are high. The progressive tax transfers tax burdens from a low social class to a high social class; which allows people that can’t fund taxes an exemption from this burden. Progressive taxes come from a person’s personal income or a household income. Income taxes are at the state and national levels come from the United States workforce agency.
How much tax does an Intern Pharmacist have to pay compared to a a full time working pharmacist in California?The Annual amount for a person that is a pharmacist working in California is $118,810; If the person is single with standard deductions with receive a tax liability that may be $24,000 at the federal level and $8,900 to the state of California. On the other hand, a person this is only an intern pharmacist will make around $40,000. Also, if that person is single with standard deduction with tax liability; the person will be charged $4,000 at the federal level and $160 by the state of California.
What is the Minimum foreign tax payable rates in Germany?Germany has a progressive tax rate system. If it is 8,005 to 52,881 dollars then between 15% and 42% would be the Progressive Rate for that particular class. If it is 52,882 to 250,000 dollars then the rate would be 42%. More than 250,000 dollars would have a Progressive rate of 45%. The Income Tax that is made up by people that live in Germany is based on an income that is global. People that are not a resident in Germany have to only pay taxes on income that is most German made.
If a person is working in China; What can a person expect to pay in taxes on the income in Chinese currency as a U.S. citizen and, what portion of the person’s income earned abroad will be shielded from taxation by the IRS?If the person is a United States citizen then the person will not have to include up to United States Dollar (USD) 95,100 from the income taxes that were filed in 2012. In order for a person to get the exclusion of income that is foreign earned; the person must have income that was made in that foreign country and all the person’s home that taxes are paid on must be in that foreign location.
Which taxes at the local, state, and federal tax does a person have to pay and what does the government do with it in the state of Pennsylvania?A person must pay income taxes on all three levels which are at the local, state, and federal level. The income taxes are used for different reasons which are spending of the government, used to fund the department of defense, and to fund local/federal programs such as schooling funding, equipment for schools, etc. The state taxes in PA are flat taxes which are regressive and progressive taxes are at the federal level.
The Progressive Tax System was established especially for people that are in the high tax bracket that earn a high income in their household. The Progressive Tax System varies depending on the state on and if it required or not. What is a Progressive Tax System? What are the Progressive Tax System Pros and Cons? Experts are here to help people that have questions that surround the Progressive Tax System.