RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

How Much? Average Employee Tax Burden Revealed

July 29, 2015 1:36 am

Taxpayers may be handing over a lot more of their earnings on pay day than they realize. According to a recent Tax Foundation report, wage earners in the U.S. average a 31.5 percent tax burden on their pre-tax income, or over $17,000.

The average U.S. wage earner faces two major taxes: individual income tax and payroll tax, levied on both the employer and the employee. Although a little more than half the worker’s payroll tax burden is paid by his or her employer, the worker ultimately pays this tax through lower take-home pay.

While the revenues from these taxes pay for government programs, it is important to know what the cost of these programs are from the average worker’s perspective. Of the average $17,372 tax burden, $8,631 is for the individual income tax and $8,741 is for payroll taxes.

In the absence of income and payroll taxes and the benefits they provide, the average worker would take home nearly $5,000 in additional annual income, the report found.

Source: Tax Foundation

Published with permission from RISMedia.


Tags:

Add Chimney Cleaning to Summer To-Do List

July 29, 2015 1:36 am

In warmer months, lawn and pool care naturally become priorities for homeowners – but did you know chimney cleaning is also best completed in summer? Scheduling an annual inspection of your chimney during the summer months can save you frustration in the autumn, says the Chimney Safety Institute of America (CSIA). Traditionally, Labor Day is the start of the busiest time of year for chimney sweeps.

“Chimney sweeps get extremely busy in the fall; if you wait to schedule, you are not likely to get an appointment as soon as you might like,” says CSIA Director of Education Ashley Eldridge. “By scheduling now, you will have time to complete any necessary repairs before the start of the heating season. Not to mention the peace of mind you will get knowing that your fireplace or wood stove is ready to go for those dark days of winter.”

When you have your chimney and heating system inspected, be sure the technician inspects furnaces for missing panels and ductwork or open cold air returns. If these situations exist in your home, they should be repaired.

When hiring a chimney sweep, look for the CSIA certification. This demonstrates the professional is has passed an extensive examination of fire codes, clearances and standards for the construction and maintenance of chimney and venting systems. They are also well-versed in the characteristics of fuels available for home heating, such as wood, gas and oil.

Source: CSIA

Published with permission from RISMedia.


Tags: