1. Read and summarize chapter 5 of your financial management text book in at least 400 words.

* Research what the 2022 tax rate is for someone that is in $50,000 tax bracket. What is it?

*In regards to tax law, what is the definition of “capital gains?”

*Thinking about the all of the money people made on stock trading apps like “Robinhood” or “We Bull,” do you think those who made large profits realized the implications that of capital gains would have on them? Explain. The US Tax law

2. Research billionaire Warren Buffet saying that his receptionist pays more taxes than he does.

*What did he mean by that?

*Why do you think she pays more than he does? 

In assessing a company’s current and future cash flows, the financial analyst requires information concerning a company’s tax obligations. Unfortunately, the company’s tax return is not publicly available, requiring the analyst to understand the basics of corporate taxation and to work with information disclosed in the financial statements. The US Tax law

The The US Tax law are changed almost constantly and are likely being changed as you read this chapter. Hence, no purpose would be served by covering all the details of present tax laws; they might be outdated as soon as you learn them. Instead, we discuss some of the principles behind the tax laws and in doing so provide an opportunity for you to learn some terminology, do some basic taxation calculations, and see how taxes affect a company’s cash flows. We use the rates in the 2001 tax laws for demonstration purposes.

The US Tax law Following are the main kinds of taxes:

• Income taxes are taxes specifically levied on the basis of income.
• Employment taxes are also based on income, but specifically on wage and salary income. In the United States, employment taxes are paid by the employee and the employer, and they are designated spe- cifically for social insurance programs (i.e., retirement and unem-
  ployment).
• Excise taxes are taxes on certain commodities, such as alcoholic
  beverages, tobacco products, telephone service, and gasoline. Excise taxes provide an easy way of raising revenue, and they can be imposed to discourage the use of specific products, such as tobacco.
• Import and export taxes (or tariffs) are taxes based on trade with other countries and are imposed to achieve specific economic goals in world trade.

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