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15:47 Aug 15, 2011 |
Portuguese to English translations [PRO] Bus/Financial - Economics | |||||||
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| Selected response from: Martin Riordan Brazil Local time: 05:54 | ||||||
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Summary of answers provided | ||||
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4 | tax economics |
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3 | tax saving |
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Discussion entries: 1 | |
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tax saving Explanation: The absence of the context of this phrase makes it difficult to be sure of the correct translation. However, in a certain context, it could be "tax saving", that is, paying less tax. |
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tax economics Explanation: Another suggestion http://rogerweber4-files.tripod.com/id7.html Brief summary of tax economics Taxes and tariffs are how the government raises money to pay for all the services it provides. While the government has dozens of agencies that spend money, only the IRS collects money. Income tax is levied by the federal and state governments. This means that you are taxed on money you earn, either from work, or investment income. Your federal tax rate is the percentage of the money you make that the government takes through taxes. It can range from zero percent, if you are unemployed, to 35 percent or significantly more if you make a lot of money. Based on all your total income, from work and investments, you are placed in a tax bracket. Your income total falls in certain ranges specified by the government. When you are in a tax bracket, you pay a certain amount of tax on the amount of your income equal to the low end of the bracket, and an additional percent on the amount of your income that falls above that low point of the range. For example, if you are single and make $30,000 in total income per year, you fall into a tax bracket in which you pay $755, plus 15 percent of the amount of income over $7,550. So, you end up paying 13.74 percent of your income to the federal government through income tax. |
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