When it comes to buying a house, all those little fees add up. In fact, you can expect – on average – to pay an additional $2,670-$7,360 to close the deal for a $100,000 loan. And plan on paying more in closing costs depending on where you live: average closing costs (2009) were highest in Texas and lowest in Nevada.
via blog.lendingtree.com
The vast majority of subsidy dollars to fossil fuels can be attributed to just a handful of tax breaks,
Note: Almost half of the subsidies for renewables are attributable to corn-based ethanol.
via www.ritholtz.com
You know what they say about ‘death and taxes’, but maybe taxes aren’t as big of a deal as we make them out to be? After all, more than one-third of everyone who filed last year didn’t have to give a dime to Uncle Sam.
Tax filing mistakes are a fairly common occurrence. This graphic illustrates the most common errors based on the type of return filings.
You think taxes are bad now? In our latest infographic, we look back at average taxation rates in the past 95 years.
According to the most recent Census study, the medium household income in the US is $52,029. So, in 2010, with a tax rate of 20.9%, a total tax bill of $10,850 could be expected. But have you ever wondered where these tax dollars went? Some of the figures may come as a surprise.
Today, American households fork over anywhere from 10% to 35% of their annual income to Uncle Sam — not to mention the state and local governments’ cut on top. After all, nothing is certain, but death and taxes, right? Well, not quite, it turns out, if you’re a large corporation. Many of America’s 25 largest companies pay less – much less – in taxes than the average American. How so?
With a bill to legalize marijuana on the November California ballot, the controversy over the prohibition has reached a new high. Supporters see the potential tax revenues as a solution to the state’s mounting budget crisis, while those against argue that the increased use of marijuana will bring with it additional health care costs that far outweigh any economic benefits. We couldn’t think of a more appropriate day than today, 4/20 to take a look at the economic implications of a repeal of the prohibition. Is this a viable plan to get the state out of the weeds or just some kind of reefer madness?
Here is a graphic comparison of what you pay the government verses how little some of the largest corporations in America pay.