Fun (or Depressing) Tax Facts

Have you ever wondered what tax freedom day is? Tax Freedom Day is calculated by dividing the official government tally of all taxes collected each year by the official government tally of all income earned in each year.

In the past 4 years income taxes have dropped as a percentage of total income. Below is a diagram of the Tax Freedom day for the past 25 years.

Tax Freedom Day assumes that if you work all year, all of your income earned up until Tax Freedom Day represents the share that goes toward taxes for the entire year. Therefore, the later the date comes, the higher your total tax expense as a percentage of your total income.

If the average American must work 107 days in order to pay their yearly taxes, you may be wondering how much the average American works to pay for other expenses. Below is a chart showing just how many days a typical person must work to support their budget.

ABOUT

TAX TIPS

CONTACT

Although Tax Freedom Day can be disheartening, it is important to remember that Tax Freedom Day is an average for all Americans. It is very possible to make your own personal Tax Freedom Day arrive much earlier. There are many tax reducing vehicles available that can be utilized to reduce your personal tax situation.

If you are interested in having your Tax Freedom Day come earlier in the year, please give me a call and we can discuss your personal tax situation.

Troy Ruboyianes, CPA

Please do not keep me a secret. You may have a friend or family members who can benefit from this free service.
If you appreciate this service, the biggest complement I can receive is a referral.
Forward this email to a friend by clicking here.

Troy Ruboyianes is a Certified Public Accountant who graduated from the University of Arizona with a degree in accounting, finance , and entrepreneurship and is working from DeBenedetti & Co, PC. He is committed to providing personalized, quality service to business and individual clients and is always interested in developing new client relationships.

To make sure our email updates are delivered to your inbox please add truboyianes@debenedettico.com to your email Address Book.

To unsubscribe, just click here and you will automatically be removed.

Troy Ruboyianes, CPA | DeBenedetti & Co., PLLC
1609 N. Wilmot, Suite 105C | Tucson, Arizona 85712
Telephone: (520) 320-1332

CIRCULAR 230 NOTICE
----------------------------------------
Please note that this written communication is not intended to be used for purposes of avoiding penalties imposed by the Internal Revenue Code or any other taxing authority, and the intended recipient cannot and should not rely on it for that purpose.

CONFIDENTIALITY NOTICE
----------------------------------------
This email may contain confidential information belonging to the sender. The information is intended only for the use of the individual or entity named above. If you are not the intended recipient, you are hereby notified that your use of the contents of this information is strictly prohibited. If you have received this transmission in error, please notify us immediately.