10 'Hidden' Consumer Taxes - Business Insider

As consumers, we think all day about the taxes levied on our groceries, salary, and online shopping carts.

But what about the hidden taxes you won't always find tacked on to the bottom of your receipts?

The?American Institute of CPAs? has rounded up a list of 10 common?taxes?you may not know you?re paying:

?	Medicare?Tax	The amount withheld by your employer from your paycheck that helps cover the cost of running the Medicare program, the federal system of health insurance for people over the age of 65.
?	Self-Employment?Tax	A Social Security and Medicare?tax?for individuals who work for themselves. It is similar to the Social Security and Medicaretaxes?withheld from the pay of most wage earners.
?	Alternative Minimum?Tax	A mechanism created to ensure that individuals pay at least some minimum amount of federal income?tax, regardless of deductions, credits or exemptions.
?	Electricity or Natural Gas?Tax	A?tax?collected by energy suppliers based on consumption during the billing period.
?	Cable?Tax	Tax?imposed on cable television subscribers.
?	Landline Phone?Tax	Federal and state?tax?associated with use of a fixed phone line.
?	Cell Phone?Tax	Federal and state?tax?imposed on mobile telephone users.
?	State Gasoline?Tax	A?tax?on every gallon of gasoline sold.
?	Cigarette?Tax	Tax?on cigarette use.
?	State Alcohol?Tax	Tax?imposed on the purchase of beer, wine and spirits.

With tax codes in the U.S. set to undergo a major revamp in the new year, it's more crucial than ever to stay on top of your true tax burden. In some states, it's incredible to see how widely taxes on certain products vary. Just ask New Yorkers, who pay nearly three times as much as West Virginians for a pack of cigarettes.

Of the bunch, the self-employment tax is likely the most oft-forgotten among consumers ?? and the the one most likely to sting come tax season.

At any rate, it's a good idea to stay on top of your personal tax burden throughout the year. The AICPA has debuted its own tax calculator, which is free, as are similar tools from the IRS, Turbotax and Bankrate.com.

See Also: The staggering costs of being an American consumer today >

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Source: http://www.businessinsider.com/10-hidien-consumer-taxes-2012-11

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