It's April, so taxes are on many peoples minds. Two key events are happening very soon and I'm overdue for a look at local taxes. Everyone is familiar with the April 15th (actually 17th this year) deadline for filing Income Taxes. With the popularity of electronic filing and tax return loans about the only people that will be filing at the deadline are those that owe taxes. There is another special tax event that also happens this time of year - Tax Freedom Day. That is the day that you have earned enough money to pay all the taxes you will have to pay for the year. Up until then you are really working for the government. This day will obviously vary on a personal basis. On average, most Americans will have earned enough to pay their yearly tax load by April 24th. Texas gets a little break here as Texans on the whole will be off the hook by April 17th. San Angeloens, which are among the highest taxed Texans, probably can't really celebrate until the end of the month. Using the Tax Freedom figures, we work between a quarter and a third of each year just to pay for all the government we're getting. Well almost all of it anyway. Time to look closer.
First off, we need to be clear about I mean by tax. According to Dictionary.com, a tax is