Fun Facts About Taxes | 25 Fun Facts | Molen & Associates

Stay Ahead of Law Changes & Protect Yourself Against Being Audited: Corporate Transparency Act and Reasonable Compensation

Taxes: 25 Fun Facts

Now that tax season has officially begun, we thought it would be fun to start out the season with some fun tax facts. Enjoy!

  1. Did you know that in the U.K, everyone under the age of 75 years old must pay a tv license fee?
  2. Got a beard? During Peter the Great’s time…He taxed men for having beards.
  3. Costs for relocating your pet can be written off if you’re relocating for job reasons.
  4. In the middle ages, soap was highly taxed…so we can only imagine what the average Joe smelled like…
  5. In 2010, General Electric made over $4 billion in U.S. profits. It paid $0 in taxes.
  6. Drug dealers beware…. If the income from illegal drugs is not included in your taxes on Form 1040, line 21 or on schedule C-EZ 1040; jail time will be extended longer for tax evasion.
  7. In Maryland, each time you flush the toilet…you’re paying taxes on it. The average person pays $60 per year.
  8. Texas has a “pole tax” which is a tax on strip clubs, peep shows, and nude dancing. The revenue from the tax goes to sexual assault victims and health insurance for the poor.
  9. Did you know that in Texas…Belt buckles are taxed an additional 6.25 percent???
  10. I guess because we get hit with the belt buckle tax, they have to cut us some slack somewhere. In Texas cowboy boots are exempt from sales tax. Hiking books are not.
  11. The U.S. Civil War was not about slavery but mainly about taxation.
  12. WWII led to the creation of the Bureau of Internal Revenue, which later became the Internal Revenue Service (IRS). The IRS is the world’s largest accounting and tax-collection organization.
  13. Approximately 90% of people who employ housekeepers and babysitters cheat on their taxes.
  14. If someone reports their company for tax evasion in the U.S., he or she will receive 30% of the amount collected.
  15. The federal tax code was 400 pages in 1913. In 2010 it was 70,000 pages. You can only imagine how long it is now after the recent tax bill…
  16. There is no known civilization that did not tax. Even the very first known civilization, the Sumerians, recorded their tax history on clay cones.
  17. Roman emperor Vespasian placed a tax on urine in the 1st century A.D. Urine at that time was collected and used as a source of ammonia for tanning hides and laundering garments.
  18. The most famous protest of taxation by the American colonies was the Boston Tea Party. On December 16, 1773, colonists dumped 342 chests of tea into the Boston Harbor to protest the Tea Act and other oppressive tax measures. They argued there should be no “taxation without representation.”
  19. Everyone who earns a paycheck pays a federal income tax. Forty-three of the 50 states charge their citizens an income tax. The seven states that do not have a state income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
  20. In 1691, England taxed the number of windows on a house. Consequently, houses began to be built with very few windows or people would close up existing windows. When people began to suffer health problems from lack of windows/air, the tax was finally repealed in 1851.
  21. When Americans started paying annual federal income tax in 1913, they would save money in anticipation of paying a lump sum to the federal government. It wasn’t until WWII, when the government needed a more consistent stream of income to fund the war, that taxes started being withheld from paychecks.
  22. Albert Einstein once said: “The hardest thing in the world to understand is the income tax.” In case you are curious… There are more than 480 tax forms on the IRS website.
  23. In 2011, the IRS collected over $2.4 trillion from around 234 million tax returns (which included corporate, individual, and employment income tax returns). The IRS also provided approximately $416 billion in refunds.
  24. Cortez was able to defeat Montezuma largely because he incited a tax revolt among the peasants.
  25. If you want to save more money on your taxes, call Molen & Associates at 281-440-6279.

Carrolina Kizzee
Director of First Impressions (Receptionist)

7 Crazy Taxes from the U.S. and Abroad.” TurboTax. 2012. Accessed: March 22, 2013.

Adams, Charles. For Good and Evil: The Impact of Taxes on the Course of Civilization. New York, NY: Madison Books, 1993.

La Bella, Laura. How Taxation Works. New York, NY: The Rosen Publishing Group, Inc., 2011.

Strange & Unusual Taxes throughout history from around the World.” eFile. Accessed March 22, 2013.

The Joy of Tax.” The Economist. April 8, 2010. Accessed: March 22, 2013.

Unusual Tax Breaks, Tax Deductions, and Tax Exemptions.” eFile. Accessed March 22, 2013. Accessed: March 22, 2013.

The Molen & Associates Difference

Mike Forsyth

“Super helpful and timely. This is our first year with them and we look forward to trusting them with our taxes and business books for years to come.”

Caitlin Daulong

“Molen & Associates is amazing! They run an incredibly streamlined process, which makes filing taxes a breeze. So impressed with their attention to detail, organization, and swift execution every year. Cannot recommend them enough!”

Sy Sahrai

“I’ve been with Mr. Molen’s company for few years and I felt treated like family respect and dignity. They are caring, professional and honest, which hard to find these days. Love working with them.”

Credits vs Deductions: What is the Difference?

When it comes to filing taxes, understanding the difference between tax credits and tax deductions is crucial. Both can significantly reduce your tax liability, but they work in different ways. This article will delve into the distinctions between tax credits and...

IRS Audits: Understanding the Process, Red Flags, and Preparation

Navigating the complexities of the U.S. tax system can be daunting, and one of the most anxiety-inducing aspects for taxpayers is the possibility of an IRS audit. Understanding the audit process, recognizing potential red flags, and knowing how to prepare can...

Energy Tax Credits: Tax Incentives for Energy-Efficient Home Improvements and Renewable Energy Installations

In an era where environmental sustainability is becoming increasingly critical, energy tax credits offer homeowners a financial incentive to make energy-efficient home improvements and invest in renewable energy installations. These tax credits not only help reduce...

Foreign Income and Taxes: Understanding the Foreign Earned Income Exclusion and Tax Implications for Expatriates

Foreign Income and Taxes: Understanding the Foreign Earned Income Exclusion and Tax Implications for Expatriates Living and working abroad can be an exciting adventure, but it also comes with unique tax challenges. One of the most significant considerations for U.S....

Understanding the Alternative Minimum Tax (AMT): Who It Affects and How It Works

The Alternative Minimum Tax (AMT) is a crucial component of the U.S. tax system, designed to ensure that individuals with higher incomes pay a minimum amount of tax, regardless of their deductions and credits. This article explores the concept of AMT, its implications...

Tax Implications of Inheritance: Understanding Estate Taxes, Inheritance Taxes, and Step-Up in Basis Rules

Inheriting assets can be a complex affair, especially when it comes to understanding the tax implications involved. This article delves into the intricacies of estate taxes, inheritance taxes, and the step-up in basis rules, providing a comprehensive overview for...

Healthcare and Taxes: Navigating Health Savings Accounts (HSAs) and Medical Expense Deductions

Healthcare costs can be a significant financial burden, but tax-advantaged accounts like Health Savings Accounts (HSAs) and deductions for medical expenses can help mitigate these costs. Understanding these benefits can lead to substantial tax savings and financial...

Tax Credits for Families: Navigating the Child Tax Credit and the Child and Dependent Care Credit

Tax credits are essential tools for reducing the tax burden on families, helping to increase disposable income and financial stability. Among these, the Child Tax Credit (CTC) and the Child and Dependent Care Credit (CDCC) are particularly beneficial for parents and...

Retirement Contributions and Taxes: Understanding the Tax Implications of Contributing to IRAs and 401(k)s

When planning for retirement, understanding the tax implications of contributing to retirement accounts such as Individual Retirement Arrangements (IRAs) and 401(k) plans is crucial. These accounts offer valuable tax benefits, which can significantly impact your...

Texas has been declared a Federal Disaster. What does this mean?

With the storm and power outages last week, Texas has been declared a Federal Disaster. What does this mean? When a state is declared a federal disaster area by the President of the United States, it triggers a series of federal assistance measures under the Robert T....

Request an Appointment Today

2 + 10 =

Call us at

Pin It on Pinterest

Share This