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How to Start a Tax Preparation Service
Ways to Stop a Foreclosure
Options Other Than Foreclosure
How to Make Money With Tax Liens
Where Do You Plug the EFN on a Balance Sheet?
How Do Items on an Income Statement Affect a Balance Sheet?
How to Calculate EFN for a Pro Forma Balance Sheet
Ways to Build Credit
Where Can I Do State Taxes Online?
Why Are There Three Different FICO Scores?
What Is Debt Arbitration?
Rules for Filing Chapter 13
What Happens If Taxes Are Filed Late?
How to Pay Less Income Tax
What Is the Purpose of a 941 Form?
Time Share Tax Deductions
Paycheck Tax Deduction Estimate
Which Companies Protect You from Credit Card Fraud?
What Do Federal Taxes Fund?
Tax Enforcement Problems
What Is an FHA Streamline Loan?
IRA Distribution Penalties
IRA Distribution Rules
What Is a Title Company?
Taxes--it's tough to escape them. When it comes federal taxes, there's always the question of why people m… More
Federal taxes are used to fund a variety of government functions, including balancing the budget, combatin… More
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Summary: Federal taxes are used to fund a variety of government functions, including balancing the budget, combating terrorism and promoting America's growth. Learn how income tax is used to try to keep America prosperous with information from a certified public accountant and personal financial planner in this free video on taxes.
Miranda Chook is a CPA with expertise in international operations. She has held executive positions with both publicly listed and privately held companies. In addition to her finance...read more
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"My name's Miranda Chook, a CPA. Income tax receipts are the country's largest revenue stream. And it's followed closely by social insurance and retirement receipts and corporation income taxes. Now for the 2009 budget that was submitted in early 2008, the top 3 uses of those funds have to do with balancing the budget by the year 2012, had to do with combating terrorism and protecting the homeland to keep America safe such as funding wars in Iraq and Afghanistan. And thirdly it had to do with promoting America's growth by preventing income tax increases and helping to keep America prosperous. And as you've seen, there have been talk back and forth on those tax increases whether to keep them permanent or not. Now obviously this budget was submitted prior to the currently authorized trillions of dollars to address the current economic and financial crisis. So to get breaking news on this and budgets for the next year, take a look at the website for the White House or the US Budget Office."
eHow Article: What Do Federal Taxes Fund?
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