MGMT 4A Lecture Notes - Lecture 4: Coursera, Income Tax, Actuary
Document Summary
Income taxes in most places are progressive. As income rises, % you are taxed rises. Property taxes pay for sewer lines, roads, schools, jails. Income tax determined by: income earned, expenses deducted from income, tax exemptions allowed, tax rate charged taxes owed= taxable income x tax rate. Important tools in making a good plan: investments, retirement accounts, college savings accounts. More efficient than income taxes that discourage working and investing, encourages saving. $ you contribute investments, upon retirement you can draw on that pension. Makes estimates of the outcomes of insurable events. When you choose a higher deductible, your premium is lower bc you assume more risk. Cost sharing measures with provider, specifies a fixed amount for a service, no surprises.
