acct401db2 reply

acct401db2 reply - advancement in the medical field. There...

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The tax deductions were designed to encourage social and economic behaviors by the government. For instance, it wants taxpayers to put money in a 401K plan or IRA/Roth plan for retirement. The money put into the retirement plan has a cap on how much a taxpayer can contribute. The taxpayer is given ten percent of what was contributed by as a refund. This takes a burden off of the government when the taxpayer retires. There are also contributes tax deductions for giving to non-profit organizations and charities. This helps the government out as well. In a sense, the government is helping technological
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Unformatted text preview: advancement in the medical field. There are many other non-profit organizations and charities were one contributes and gets a deduction. Yes, many will abuse the system and get away with it. I have seen people use EBT cards (electronic food stamps) in the grocery store and walk out to a brand new car or one that I could not afford. The lie, cheats, and steals. People who do this it will catch up with them even when he or she dies. It is unfortunate that we living in a free society that does not want to take care of the government that defends and gives theses free rights....
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This note was uploaded on 07/19/2011 for the course ACCT 401 taught by Professor Hawkens during the Spring '11 term at Lee.

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