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IBPS Exams Important 2014

Wealth Tax
Related Searches: Do I Have to Claim an Inheritance on My Taxes?, Inheritance Tax Laws, Do You Pay Tax on an Inheritance?, IRS
Inheritance Taxes, Avoiding Inheritance Tax
Definition of 'Wealth Tax'
It is a tax based on the market value of assets that are owned. These assets include, but are not limited to, cash, bank deposits,
shares, fixed assets, private cars, assessed value of real property, pension plans, money funds, owner occupied housing and
trusts. An ad valorem tax on real estate and an intangible tax on financial assets are both examples of a wealth tax. Although
many developed countries choose to tax wealth, the United States has generally favored taxing income.
Investopedia explains 'Wealth Tax'
Wealth tax is imposed on the wealth possessed by individuals in a country. The tax is on a person's net worth which is assets
minus liabilities. Not all countries have this type of tax; Austria, Denmark, Germany, Sweden, Spain, Finland, Iceland and Luxenberg
have abolished it in recent years. The United States doesn't impose wealth tax but requires income and property taxes.
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Wealth The Wealth Effect
Regressive Tax Progressive Tax
Tax Fairness Eurasian Economic Union (EEU)
Proof of Charitable Contributions Corporate Inversion
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Can my spouse and children collect my Social Security when I die?
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