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Resources for Accountants

Regressive, Proportional, and Progressive Taxes [Video]

Regressive, Proportional, and Progressive Taxes

Tax rates can be progressive, proportional, or regressive.

A progressive tax rate increases as the taxpayer’s income increases.

• If your tax rate is 10% for your first $10,000 of income, 15% for your next $10,000 of income, and 20% for any income beyond that, that’s a progressive tax
• Higher levels of income are taxed at higher rates

A proportional tax rate remains constant as the taxpayer’s income increases.

• If your tax rate is 10% regardless of your income level, that’s a proportional tax

A regressive tax rate decreases as the taxpayer’s income increases.

• If your tax rate is 10% for your first $10,000 of income, 6% for your next $10,000 of income, and 2% for any income beyond that, that’s a regressive tax
• Higher levels of income are taxed at lower rates

Federal income tax rates in the U.S. are progressive.

If you’re wondering why billionaires pay lower tax rates than some people in the top tax bracket, it’s because a lot of their income is tax-free or taxed at preferential rates.


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Categories
Resources for Accountants

10 Simple Steps to Starting a New Business | How to Start a Business [Video]

Embarking on the journey of starting a new business is both thrilling and challenging. It's an opportunity to turn your passion into a profitable venture, but it also requires meticulous planning, dedication, and perseverance. Whether you're venturing into a niche market or launching a revolutionary product, having a clear roadmap can significantly enhance your chances of success. In this guide, we'll outline 10 comprehensive steps to help you navigate the process of starting your own business, from conceptualization to launch and beyond.

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Resources for Accountants

How to Start a Security Company Business | Free Security Company Business Plan Included [Video]

Presenting 50 essential tips for starting a Security Company business.Now you can get your free business plan template gift here: https://www.bizmove.com/business-gifts.htm This is a high quality, full blown business plan template that you can download and modify to create a quality business plan tailored to your business idea.It comes complete with detailed instructions and all the related spreadsheets. Allows you to easily prepare a professional business plan for your new businessAlso get free small business guides, tools, and worksheets at: https://www.bizmove.com

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Inspiring Short Stories | Seeking Happiness | Motivational & Inspirational Video [Video]

Seeking Happiness. Inspiring short stories. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.The motivational stories and famous anecdotes presented in this video are excerpts from our book: Top 100 motivational stories: the best inspirational short stories and anecdotes of all time. Get the book here: https://www.bizmove.com/inspiration/m9b.htm