Only Two Things In Life……….

As the saying goes…….the only two things we can be absolutely certain of in life are death and taxes.

 

Taxes pay for so many services that we sometimes don’t really stop to think about but benefit greatly from them.

 

Income tax is a progressive tax. Meaning, the tax rate increases as the amount subject to taxation increases. The proceeds from income tax are used for the Federal budget.

 

Sales taxes – can be imposed at any level of government, but the largest percentage commonly is at the state level. This tax goes towards the State’s budget and will vary from state to state. Income tax – is imposed at the federal level as well as the state level. Not all states have a state tax, we in Wyoming are lucky to not have this tax.

 

Real estate taxes – are imposed by local government in order to pay for schools, police/fire services, hospitals, garbage disposal, sewage/sanitation, road maintenance, parks, and libraries.

 

There are of course other types of taxes such as the Payroll (FICA), Capital Gains, Corporate, Estate, Gift, and Excise taxes. These taxes are used for the government’s budget, with the exception of the Payroll Tax which goes to fund Social Security and Medicare.

 

We all have to pay taxes and we all benefit from them, even though we might not think that way at the moment when we see them deducted from our paychecks or on that fateful day April 15th.

About Lisa Marchant

I enjoy assisting people in finding their new home or investment property. I want to be their trusted advisor when it comes to learning more about the process of buying, selling and relocating to our area. It is my number one goal to provide exceptional service to everyone I work with. Having lived in Deaver and Cowley Wyoming since childhood I am very knowledgeable about the area and enjoy sharing that knowledge with those making Wyoming their new home. I am a full time real estate agent working for Johnson Home and Land. I joined the staff at Johnson Home and Land in March of 2003, beginning as the office secretary and personal assistant. I got my real estate license in February of 2005. I am a member of the Northwest Wyoming Board of REALTORS, Wyoming Association of REALTORS, the National Association of REALTORS, and locally a board member of the Lovell Chamber of Commerce.
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One Response to Only Two Things In Life……….

  1. Sarah Johnson says:

    You are so right Lisa. It’s wise of us to stop and think of all the advantages afforded us here in the U.S.

    Like

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