Uncover the Hidden Taxes You Are Paying

December 20, 2013

Taxes being revealedBenjamin Franklin is quoted as saying “In this world nothing can be said to be certain, except death and taxes.” And we all know that this old statement holds true today. From income to property to sales taxes, the “tax man” gets “his” share of our money. Most of the time, though, we are prepared to pay a certain percentage of a good or service on taxes; so taxes don’t completely throw us off track. There are times, however, when “hidden” taxes can derail your budget plans. To help you better budget for your taxes, the tax experts at the Equifax Finance blog have put together a list of these “hidden taxes” in the recent article, “

Tax Tips: Hidden Taxes That Can Bust Your Budget.”

The list includes local, state and federal taxes that you pay on cell phone plans, gasoline, hotel/accommodations, utilities (like cable, landline phones, electricity, gas, etc.), cigarette and alcohol, use taxes, and other taxes that you pay through your paycheck (like Social Security and Medicare).

The article recommends that consumers keep in mind that their total tax burden varies greatly depending on where they live, as taxes vary greatly by state and local jurisdictions. The article includes a link to a resource that will help consumers calculate their total tax burden (using a calculator that asks for some basic questions about where you live, how much you make, your spending habits/behavior, etc.).

Get the full article, a link to the calculator and more information on taxes on the Equifax Finance blog. While there, you can also get information on other personal finance topics like retirement, insurance, real estate,

credit scores, identity theft protection and more.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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