TAXES Meaning and
Definition
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Taxes can be defined as compulsory financial contributions imposed by the government on individuals, businesses, and other entities in order to finance public goods and services. It is a form of revenue collection which governments utilize to generate income necessary for essential public expenditures such as infrastructure development, healthcare systems, education, defense, and social welfare programs.
Taxes are typically levied in various forms such as income tax, consumption tax, property tax, and corporate tax, among others. Income tax is derived from the income earned by individuals and businesses, while consumption tax is imposed on goods and services purchased by consumers. Property tax is assessed based on the value of real estate properties, and corporate tax is levied on the profits earned by businesses.
The tax system may vary across jurisdictions, with different rates and methods of calculation. Governments often create tax laws and regulations to ensure compliance and collect revenue fairly. Taxes are usually collected by the government's tax authorities, and failure to pay them can result in penalties or legal consequences.
The funds collected through taxation contribute to the smooth functioning of the economy and ensure the provision of public goods and services to citizens. Governments use taxation as a means of redistributing wealth and reducing income inequalities through progressive tax systems, where individuals with higher incomes are taxed at higher rates.
In summary, taxes refer to compulsory financial contributions imposed by governments on individuals and entities as a way to generate revenue for public goods and services, maintaining economic stability, and promoting social welfare.
Top Common Misspellings for TAXES *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for TAXES
Etymology of TAXES
The word "taxes" has an interesting etymology. It is derived from the Latin word "taxāre", which means "to assess" or "to evaluate". In ancient Rome, "taxāre" was used to refer to the act of assessing or evaluating property for taxation purposes. Over time, the term evolved and entered the English language as "tax" during the late 14th century, maintaining its essence of assessment and evaluation.
Idioms with the word TAXES
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write sth off (on one's taxes)
The idiom "write something off (on one's taxes)" refers to the act of claiming a deduction on one's tax return for a particular expense. It means to legally exclude or deduct the cost of something from one's taxable income, thereby lowering the amount of tax owed. This deduction is typically allowed for certain business expenses or eligible personal expenses as permitted by tax laws.
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Nothing is certain but death and taxes
The idiom "Nothing is certain but death and taxes" means that death and taxes are the only two things that are unavoidable and certain in life. No matter what, everyone will experience death and has to pay taxes. It highlights the inevitable and universal nature of these two aspects of life.
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(as) certain as death and taxes
The idiom "(as) certain as death and taxes" means something that is absolutely guaranteed or certain to happen, just like death and taxes are inevitable and unavoidable aspects of life.
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(as) sure as death and taxes
The idiom "(as) sure as death and taxes" means that something is absolutely certain or unavoidable. It suggests that just like death and taxes, which are unavoidable and certain in life, the thing being referred to is also guaranteed to happen.
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death and taxes
The idiom "death and taxes" is a phrase frequently used to express the inevitability or certainty of two things in life: 1) death, symbolizing mortality and the end of life, and 2) taxes, symbolizing the obligatory payments imposed by governments on individuals or entities. This idiom highlights the unchangeable nature and universal applicability of these two concepts.
Conjugate verb Taxes
CONDITIONAL
I
would tax
we
would tax
you
would tax
he/she/it
would tax
they
would tax
FUTURE
I
will tax
we
will tax
you
will tax
he/she/it
will tax
they
will tax
FUTURE PERFECT
I
will have taxed
we
will have taxed
you
will have taxed
he/she/it
will have taxed
they
will have taxed
PAST
I
taxed
we
taxed
you
taxed
he/she/it
taxed
they
taxed
PAST PERFECT
I
had taxed
we
had taxed
you
had taxed
he/she/it
had taxed
they
had taxed
PRESENT
I
tax
we
tax
you
tax
he/she/it
taxes
they
tax
PRESENT PERFECT
I
have taxed
we
have taxed
you
have taxed
he/she/it
has taxed
they
have taxed
I
am taxing
we
are taxing
you
are taxing
he/she/it
is taxing
they
are taxing
I
was taxing
we
were taxing
you
were taxing
he/she/it
was taxing
they
were taxing
I
will be taxing
we
will be taxing
you
will be taxing
he/she/it
will be taxing
they
will be taxing
I
have been taxing
we
have been taxing
you
have been taxing
he/she/it
has been taxing
they
have been taxing
I
had been taxing
we
had been taxing
you
had been taxing
he/she/it
had been taxing
they
had been taxing
I
will have been taxing
we
will have been taxing
you
will have been taxing
he/she/it
will have been taxing
they
will have been taxing
I
would have taxed
we
would have taxed
you
would have taxed
he/she/it
would have taxed
they
would have taxed
I
would be taxing
we
would be taxing
you
would be taxing
he/she/it
would be taxing
they
would be taxing
I
would have been taxing
we
would have been taxing
you
would have been taxing
he/she/it
would have been taxing
they
would have been taxing
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