Thursday, October 18, 2007

Taxes

Today we learned about different tax fees from a booklet and these different tax fees that we have discussed are:
1. CPP ( Canada Pension Plan )
2. EI ( Employment Insurance )
3. Federal Taxes
4. Provincial taxes

These tax fees are to be found in the book which tells you the amount of tax added to the money. One more thing that Mr K. explained well is that some of the taxes like in federal and provincial taxes, there are differences in some the pages which says on the left/right top corner of the booklet saying " Biweekly " and " Weekly ". Also, you need to know which column of the following tax i being asked. that's what i have learned in todays class. Nightz people .. =)

4 comments:

Andrea said...

I must say Aaron that Taxes are a very important lesson to learn! I am actually a little jealous that you are learning about Federal and Provincial Income taxes already. My parents do my income tax for me so honestly I have no clue how to figure out taxes. My mom is in the process of teaching me how to do taxes. You are very lucky to have the opportunity to take a class like Consumer Math 20S. Because I went to a very small school, I never had the opportunity to take a class like this. You are lucky that you are learning now how to do very useful math skills at a young age (not that all math skills aren't useful!). Peace Out!

Andrea R. (Mentor)
University of Regina

Crystal said...

I agree with Andrea, it is great that you get to learn about taxes in school. I as well have no idea when it come to taxes my mom also does mine for me. It is also great to have this opportunity because just like Andrea I come from a small town that did not have Consumer Math as an option. This will be very useful knowledge for later on in life.

Crystal F (Mentor)
University of Regina

Anonymous said...

It's good to see that some of these things are finally being taught in school. Doing your own taxes is easily one of the most daunting tasks around if you have no clue as to what you are doing. I guarantee that this will come in handy if you ever plan on doing your own taxes down the line.

Geoff G. (Mentor)
University of Regina

Heidi said...

Wow! It's so great to hear that you're learning about all of these things now! Personally my dad did my taxes for the past 4 years but this year he decided I needed to learn. It was terrible! I had no idea what each tax was or how to calculate the specific sums. You have no idea how valuable that information is! I hope that you understood it all and are able to breeze through your next tax form! Good luck, I am a little jealous to be honest!

Heidi K. (Mentor)
University of Regina