Thursday, December 5, 2013

Taxes -- It's More Than Meets the Eye

Although the Big 3 for most people are Federal Income Tax, State Income Tax, and Property Tax, and added together those can be 30% to 45% of total Gross income. There are a bunch of other "taxes" that we pay, bringing the total cost of supporting your government up to 60% to 85% of everything you make. Sheesh, I would say we need some tax reform! Please add to this list by commenting. ------------------------------------------------------------------------------------------ Item Your Approx Cost Per Year? Description 1 (Cell Phone 911 Fee/Tax) 2 Accounts Receivable Tax 3 Airfare/Airport Tax 4 Alcohol Serving License Tax 5 Building Permit Tax 6 Business and Occupation Tax 7 Capital Gains Tax 8 CDL license Tax 9 Cigarette Tax 10 Corporate Income Tax 11 Court Fines (indirect taxes) 12 Dog License Tax 13 Driving Tax ( Tax on mileage driven, soon) 14 Federal Income Tax 15 Federal Unemployment Tax (FUTA) 16 Fire Fee (Tax for square footage protection) 17 Firearms Purchase Task 18 Fishing License Tax 19 Food Production License Tax 20 Food Serving License Tax 21 Fuel permit tax 22 Gasoline Tax (42 cents per gallon) 23 Hunting License Tax 24 Inflation (QE is a TAX) 25 Inheritance Tax Interest expense (tax on the money) 26 Internet Sales Tax 27 Inventory tax IRS Interest Charges (tax on top of tax) 28 IRS Penalties (tax on top of tax) 29 Liquor Tax 30 Local Income Tax 31 Luxury Taxes 32 Marriage License Tax 33 Medicare Tax 34 Nicotine Tax 35 Parenting Tax (required to get divorced in Massachusetts) 36 Police Fund (Gets you a "support" sticker so you get less tickets) 37 Pot Tax (and NOT the one you sit your ass on) 38 Property Purchasing Filing Taxes 39 Property Tax 40 Real Estate Tax 41 Recreational Vehicle Tax 42 Road Usage Taxes (Truckers) 43 Sales Taxes 44 Savings Tax 45 School Tax 46 Self Employment Tax 47 Septic Permit Tax 48 Service Charge Taxes 49 Social Security Tax 50 Special Tax on Sales of Precious Metals 51 State Income Tax 52 State Unemployment Tax (SUTA) 53 Tax Accounting Fees Tax 54 Telephone federal excise tax 55 Telephone federal universal service fee tax 56 Telephone federal, state and local surcharge taxes 57 Telephone minimum usage surcharge tax 58 Telephone recurring and non-recurring charges tax 59 Telephone state and local tax 60 Telephone usage charge tax 61 Time Tax (The Cost of Your Time to Understand and Pay Taxes) 62 Toll Bridge Taxes 63 Toll Roads (Turnpikes) 64 Toll Tunnel Taxes 65 Traffic Fines (indirect taxation) 66 Trailer registration tax 67 UN-Affordable Healthcare Tax 68 Utility Taxes (Gas, Water, Electric, Cable, etc.) 69 Vehicle Emissions Testing Tax 70 Vehicle Inspection Tax 71 Vehicle License Registration Tax 72 Vehicle Sales Tax 73 Watercraft registration Tax 74 Well Permit Tax 75 Workers Compensation Tax

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Insightful and Useful Comment!