Tobacco Cigarette Tax Increase
The tobacco tax increase on cigarettes and other smoking products seems to be just a way for the government to get people to quit smoking. I have quit for about two months now because I could not afford it anymore but this is ridiculous. When a pack of cigarettes costs close to $10 a pack it is time to quit. For every person that quits that is $1 less a pack that the government will be getting from the people.
Let's take a look at some one the numbers shall we?
Based on a pack a day habit at $10 a pack:
$10 x 7 days = $70 a week
$70 x 4 weeks = $280 a month
$280 x 12 = $3360 a year
$3,360 a YEAR!
If you made $32,000 a year and quit smoking that would be like getting an 11% raise.
This also means that 11% of your yearly salary goes to smoking.
The federal cigarette tax increase is basically taking money from you while you are harming yourself. The time has come to take quitting smoking very seriously.
One last point; what would you do with it if someone handed you $3,360?
Author: Mike
About the author:
This is how I quit. You can do it Today!
Article source: Free Taxes Articles.
More free articles under
Taxes
IRS Simplifies Reporting Requirements for Corps
The IRS is heavily promoting electronic filing options. This promotion has run into problems with corporations because of complex regulations. The IRS is now moving to correct this problem.
IRS Announces Tax Credits For Toyota Prius
The Toyota Prius is the vehicle that started the entire hybrid vehicle craze. It continues to dominate the market and the IRS has announced the tax credits for this year.
Cost Segregation give apartment owners tax relief
Apartment owners can face staggering expenses to maintain apartment communities. The upkeep of even a modest community could involve groundskeeping, unit renovation, and replacements, such as parking lot asphalt and fencing. Another steep expense is federal income tax - and in some areas an additional state tax on income - but through an innovative study known as cost segregation, the depreciation of property components can be used to help lower federal taxes.
The IRS vs Mother Nature
The IRS recently met its match in the form of Mother Nature. Yes, the massive flooding in Washington, D.C., took out the IRS headquarters.
Tax Preparation Software: The Good, the Bad and the Ugly
The pros and cons of using software to complete your tax return.
Leveling the Playing Field Among 529 Plans
Many people are already aware of the benefits of investing in a state-sponsored 529 college savings program. What might not be as well known yet are tax parity laws.
Strategies For Limiting Taxes If You Are Your Own Boss
Self-employed individuals always cringe at the amount of taxes the pay to the IRS and state. Here are tax strategies for self-employed individuals that reduce those tax amounts.