TAX BASICS: a Beginner's Guide to Everything

This video is a beginner's guide to all things tax. First I'll explain what tax is. Then we'll cover the burden of tax and how different taxes can be proportional, regressive or progressive. You'll also discover the difference between tax avoidance and tax evasion, along with direct and indirect taxes.

We'll then break taxes down into three distinct categories:

▪ Tax on the Stuff you Earn
▪ Tax on the Stuff you Buy
▪ Tax on the Stuff you Own

We'll cover the main taxes that fall into each of these groups and give examples to illustrate how they work.

⏱️TIMESTAMPS
00:00 - What is Tax?
00:30 - The Burden of Tax
01:20 - Tax Avoidance
01:36 - Tax Evasion
01:48 - Direct vs Indirect Tax
02:40 - Tax on the Stuff you Earn
02:44 - Personal Income Tax
05:38 - Payroll Tax
07:05 - Company Tax
07:59 - Capital Gains Tax
09:27 - Tax on the Stuff you Buy
09:35 - Sales Tax
11:46 - Value-Added Tax (aka. Goods and Services Tax)
15:03 - Excise Tax
15:48 - Tariffs
16:25 - Tax on the Stuff you Own
16:29 - Property Tax
17:50 - Wealth Tax
18:49 - Inheritance Tax

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DISCLAIMER

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#tax #accounting #accountingstuff

[AccountingStuff]

What tax topics would you like me to cover next??

⏱TIMESTAMPS
00:00 - What is Tax?
00:30 - The Burden of Tax
01:20 - Tax Avoidance
01:36 - Tax Evasion
01:48 - Direct vs Indirect Tax
02:40 - Tax on the Stuff you Earn
02:44 - Personal Income Tax
05:38 - Payroll Tax
07:05 - Company Tax
07:59 - Capital Gains Tax
09:27 - Tax on the Stuff you Buy
09:35 - Sales Tax
11:46 - Value-Added Tax (aka. Goods and Services Tax)
15:03 - Excise Tax
15:48 - Tariffs
16:25 - Tax on the Stuff you Own
16:29 - Property Tax
17:50 - Wealth Tax
18:49 - Inheritance Tax

[m.yameenalli]

It’s been a minute, but I just want to say thanks, I started watching your videos 4 years ago to understand accounting. I just finished my degree and I’ll be graduating in two months. Thanks for everything

[PrometheusUnchainedAndFree]

After 3 months I thought you quit Youtube. It is so amazing to see you upload again. You are even better learning source than the paid ones. I used to watch you to learn now I am watching for fun

[marcoatrejoenriquez]

I am in an Accounting Class (Studying an MBA), and your channel has helped me a lot. Thanks!!

[traveltoks]

Hi James. I'm usually a passive watcher but I just HAD to comment. From the pictograms, the clean editing to your beautiful narration; I can tell my uni schooling could be a breeze. You are out here doing the most. Keep up!
Just a subscriber giving you your flowers 🌺🌹

[TheGippy]

Nice to have you back James, I would like some more complexed tax videos cheers

[sonyaschiff]

Can you please do a payroll accounting video!! I understand your videos so much better than my instructors!!

[theguywith]

I love taxation and tax bracket calculations. Intimidating.

[Rack_Academy]

Your channel has been so helpful. I saw your last upload was 3 months ago! I was shocked and i thought you quit. But then you uploaded this video and i jumped! Thank you so much for this amazing educational content

[michaellazarus]

OH MY GOSH> Your channel is such a blessing. I literally just found your cheat sheets in the description and I'll be robbing you of them shortly 💸

[ManOfEarthAndNature]

Tax accountant chiming in. I hope you are a professor or somehow work with students because this is fabulously done.

[tytrrtt]

Excellent video, get appreciation from a Big 4 employee

[cherrydeblossom]

Can you make some videos for cost Accounting and managerial Accounting?

[willyou]

I love your videos. I'm self taught accountant because of you. Thank you so much. Please, Show us how to avoid taxes legally.

[ganeshgadekar]

Thanks for your video, It helps me a lot, Can you please explain Withholding Tax, VAT/GST in more details and there recording in books?

[johnhoffman]

Just started my TAX class! Perfect timing

[jaycie]

I used to use your vids to study for my BA in accounting. But this is the first time I watched just for fun.
2 reasons 1st my degree is due to be mailed any day now.
2nd I've worked as a professional tax preparer sense 2020.
Still entertaining but yeah this was very basic.

[mominaali]

lots of love and respect for you from Pakistan. I have shared your channel with my all Classfellows

[hsafi]

Thanks so so much, please cover Gain and Loss/Realized and Recognized with capital tax please.

[afnaancadey]

Firs thank you :second Im acollege student I learned alot from you about financial accounting it was very difficult for me at first more thank you
The second semester is about to begin in faculty financial accounting I really do not understand the english language I watched your vedios I understand alot of things bye teacher