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As the old adage goes, taxes are a fact of life.
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Income tax, medicare, and social security. Three federal taxes are imposed on wage and salary income: And if you're reading this article, you're probably curious to know what exactly you're paying for. Most states impose taxes on income as well. And the more we know about them as adults the easier our finances become.
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Gross income refers to income before taxes.
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And if you're reading this article, you're probably curious to know what exactly you're paying for.
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