We all know about our federal income taxes. If you don’t, let’s all hope that is because you don’t need to pay any. But there is more – you would be surprised. This is a tax calculator that will give you a clearer picture of the number and types of taxes you pay and their estimated amounts.
The Total Tax Insights™ calculator (totaltaxinsights.org) is the first-of-a-kind tool brought to you by the CPA profession that will give you a clearer view of your estimated annual tax obligation based on your place of residence across the country. There are more than 20 types of federal, state and local taxes included – some of which may surprise you. When I worked at Revol, I was able to see how many taxes are involved in cell phone service and within the telecommunications industry. And that was just a slice.
The more you know about the taxes you pay, the greater insight you will have to make better informed financial decisions. You may start thinking differently about a lot of things, such as whether to pay off a mortgage, start a new business or when and how to save for retirement. Give it a try and then let’s talk about whether you are ready to begin the process of planning, managing and building your financial future.