The Three Basic Tax Types
The better you understand taxes, the better equipped you are to make decisions about them. All taxes can be divided into three basic types: taxes on what you buy, taxes on what you earn, and taxes on what you own.
Our animated explainer videos are designed for the classroom, social media, and anyone looking to boost their tax knowledge on the go.
The better you understand taxes, the better equipped you are to make decisions about them. All taxes can be divided into three basic types: taxes on what you buy, taxes on what you earn, and taxes on what you own.
Taxes have played a major role throughout history, and even date back to around 5,000 years ago. Taxes will continue to affect our lives and shape our societies just like they have for thousands of years.
Understanding how tax brackets work can inform decisions about performing extra work through a second job or overtime, or pursuing new streams of income.
Since only U.S. businesses pay the GILTI tax, not foreign businesses, it makes U.S.-based brands less competitive abroad. Whatever its intentions, GILTI is a flawed policy, and doubling down on it will hurt us abroad, and at home.