TAXES

Income taxes - drawn from salaries, wages, tips, dividends (money regularly paid by a company to its shareholders from its profits),  and capital gains from investments.

Payroll taxes - accumulated directly from paychecks via employers. The government chooses where to allocate your tax dollars, for example, one of the largest payroll taxes, FICA, funds Social Security and Medicare.

Sales taxes - paid with any purchase of goods and exist on the Federal, state, and local levels. Because of this, you may be required to pay multiple sales taxes on a single purchase.

Property taxes - paid by homeowners & depend directly on the value of the property. Annual property taxes, specifically, are allocated to fund local roads, police, and emergency response.