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Federal Taxes - Definition
Below, you'll find a definition of this investing term...

Definition: These are taxes that you pay to the federal government that are used for federal programs like defense and education.

TeenAnalyst Advice: Nobody likes paying taxes; but they're necessary for the country to operate.  The nice thing about federal taxes is that it's not too hard to get a refund on what you had withheld from your paychecks.

When you fill out your 1040, you'll have to attach another sheet with information about your investments (if you have any).  You'll have to pay taxes on your dividends and capital gains, unless they're in a tax-sheltered investment vehicle.

 

Related Sections on Our Website

Investing - Learn more about investing basics and strategies.

Taxes - Learn about topics involving taxation.

 

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