Unfortunately, basic lessons on how to be an adult, like calculating your income and property taxes, aren’t taught in schools (but we surely know the formula of the Pythagorean Theorem). That is why most people, including myself, get lost in the real world after they move out of their parents’ nest. We are forced to handle finances on our own and learn these intimidating lingos, especially the ones concerning our wages and taxation.
When we were kids, we don’t care about money matters, including the concept of taxes. But now that we’re adults and we’re seeing a large chunk of our salary going to taxes, we really want to get involved and learn how the field works. So if you’re someone who tends to get a bit overwhelmed with tax jargons, we’ve laid out some basic terms you might want to get familiar with.