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Did you know that taxes are the biggest expense in your financial budget?

Check out all types of taxes that can eat away your income!

  1. Federal Income Tax = 37%

  2. State Income Tax = 7%

  3. Sales Tax = 6%

  4. Social Security Tax = 6.2%

  5. Medicare Tax = 1.45%

  6. Self Employment Tax = 7.65%

  7. Capital Gains Tax = 20%

  8. Property Tax = 1.2%

  9. Estate Tax = 40%

  10. Gift Tax = 40% Note: The above tax percentages are based on the highest tax brackets or averages. Speak with your tax advisor to get a better estimate as specific tax percentages can vary based on your income, state of residence, and other variables.

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