tax

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Tax Definition & Meaning

1. A compulsory financial charge imposed by a government on income, goods, or services.

Example: I need to pay my income tax by april 15th.

2. A burden or strain on something or someone.

Example: The constant criticism was a tax on her mental health.

3. To make heavy demands on something or someone.

Example: The long commute taxes my patience.

4. A contribution or payment made for a specific purpose.

Example: The hotel charged a tax for using the pool.

5. To determine the value of something, especially property, for taxation purposes.

Example: The assessor will tax the value of the house to determine the property tax.

Examples of the word tax used in sentences.

  • My employer automatically deducts taxes from my paycheck.
  • Every year, I have to pay taxes on my income to the government.
  • The sales tax on this purchase is 5%.
  • I need to fill out my tax forms before the deadline.
  • The government uses tax money to fund public services like schools and hospitals.
  • I need to pay my taxes before the end of the month.
  • She was surprised to see how much tax was deducted from her paycheck.
  • The government increased the taxes on tobacco products.
  • We'll have to pay extra taxes on this imported item.
  • They're offering a tax break for first-time homebuyers.
  • I received a tax refund this year because I overpaid last year. (personal finance)
  • I have to file my tax return every year by April 15th. (finance)
  • The government increased the tax rate on cigarettes to discourage smoking. (politics)
  • Some people try to avoid paying taxes by hiding their income or assets. (ethics)
  • The tax system in this country is very complex and difficult to understand. (economics)
  • The government recently raised sales tax to generate revenue for public services.
  • Many people choose to hire a professional accountant to help them prepare their tax returns.
  • Tax incentives for environmentally friendly practices can help promote sustainable development.
  • As a business owner, it is important to carefully plan and manage your tax obligations to ensure compliance with the law.
  • Some argue that a flat tax system is more fair and efficient than a progressive tax system.
  • The government introduces new taxes to discourage people from indulging in unhealthy habits like smoking and drinking.
  • It's unfair that some big corporations are able to dodge taxes by exploiting legal loopholes, while ordinary citizens are subject to steep tax rates.
  • As a small business owner, I find it challenging to keep up with the changes in tax laws every year.
  • I heard that Switzerland has one of the highest tax rates in the world, but it also offers exceptional public services and infrastructure.
  • The recent tax hike has caused public outcry, with many arguing that the government should focus on cutting wasteful spending instead.
  • In order to stimulate the economy, the government may consider reducing taxes for small businesses.
  • The introduction of a carbon tax has been hailed as a necessary step towards reducing greenhouse gas emissions.
  • Some companies try to evade taxes by shifting profits to low-tax jurisdictions, which is why international tax laws need to be strengthened.
  • As a high-earning individual, I am always looking for ways to minimize my tax liability.
  • The current tax system is in dire need of reform, as it unfairly burdens middle and lower-income households.
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