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With Tax Day fast approaching and a new tax code recently signed into law by President Trump, the personal-finance website WalletHub today released its 2018 Tax Burden by State report along with its 2018 Tax Facts infographic.

In order to determine which states tax their residents most aggressively, WalletHub compared the 50 states based on the three components of state tax burden — property taxes, individual income taxes, and sales and excise taxes — as a share of total personal income.
 

Highest Tax Burdens (%)

Lowest Tax Burdens (%)

1.

New York (13.04%)

41.

Virginia (7.77%)

2.

Hawaii (11.57%)

42.

Montana (7.64%)

3.

Maine (11.02%)

43.

Alabama (7.24%)

4.

Vermont (10.94%)

44.

South Dakota (7.22%)

5.

Minnesota (10.37%)

45.

Oklahoma (7.17%)

6.

Connecticut (10.19%)

46.

New Hampshire (7.07%)

7.

Rhode Island (10.14%)

47.

Florida (6.64%)

8.

Illinois (10.08%)

48.

Tennessee (6.47%)

9.

New Jersey (10.02%)

49.

Delaware (5.68%)

10.

California (9.57%)

50.

Alaska (4.94%)

Key Stats – Tax Facts Infographic

• Americans spend 8.1 billion hours doing taxes each year. The average person spends 15 hours and $270 completing his or her 1040.
   
• 7 in 10 taxpayers get a federal tax refund. The average refund in 2018 is $2,925, as of 3/23/2018.
   
• Nearly one-third of people (30%) say their biggest Tax Day fear is making a math mistake on their taxes, topping not having enough money (29%), identity theft (25%) and getting audited (16%).
   
• 22% of Americans would switch political parties for a tax-free future. 37% would move to a different country and 24% would get an “IRS” tattoo.
   
• 51% of people would rather do jury duty than their taxes. 1 in 5 would prefer talking to their kids about sex. More than 10% would swim with sharks, spend the night in jail and drink expired milk.

To view the full report and your state’s rank, please visit:
https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494/

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3 Ways For Couples To Discuss Money

Without Getting Divorced

Numerous studies point to money as one of the leading causes of divorce. From different spending habits and financial goals to one spouse earning considerably more income than the other, money can be a polarizing issue in a marriage, straining it to the breaking point.

Money problems within a marriage can spiral out of control when one spouse or both establish detrimental financial habits, such as overspending, increasing debt, and poor priorities. Things worsen when these spending behaviors occur without the other’s knowledge. Thus, communication, financial advisors say, is a key component to a couple keeping their financial house – and perhaps their marriage – in order. And ideally, the couple will have honest and thorough money conversations on a consistent basis.

“Successful relationships require open communication and trust, but there are some conversations that are harder to have than others,” says Al Zdenek, (www.AlZdenek.com), the author of the book Master Your Cash Flow: The Key To Grow And Retain Wealth and of the upcoming book Master Your Cash Flow: The Key To Grow A Valuable Business.

“One of the most difficult ones is about money. It’s serious and can be daunting, but it doesn’t have to be difficult or scary.”

Zdenek gives three tips to couples on making a healthy, organized discussion about money a consistent part of their marriage:

• Planning the talk. This is the first step and it’s an important one. “Find a time when you can both talk without distractions – no phones, TV, or kids,” Zdenek says. “It’s also a good idea to have these meetings monthly, or at least quarterly, to ensure you’re on the same page.”
• Discussing the hard numbers. You both should be prepared to discuss your budget as well as plans for savings and retirement. In a 2017 MagnifyMoney Divorce and Debt survey, 70 percent of respondents who said their divorce was due to money issues also said they didn’t stick to a budget during the marriage. “Bring notes about how your family has handled money in the past and how you would follow or change those steps,” Zdenek says. “Is it best to have joint bank accounts or single? Now is also the time to talk about financial goals and dreams, and to see how together you can make them come true.”
• Remember, it’s ‘We,’ not ‘I.’ It’s no longer just about you since you’re building your lives together. “It should also be noted that empathy will help with these conversations,” Zdenek says. “Try to understand where your partner is coming from, especially if you have different spending habits. It’s also important to listen to qualms your partner may have.”

“It’s important to remember that old saying: ‘No one is perfect,’ ” Zdenek says. “Both of you are going to make financial errors. Be forgiving and understanding. And then try to figure ways to prevent it from happening again.”

About Al Zdenek

An author, speaker, and thought leader, Al Zdenek (www.AlZdenek.com) is executive vice president at Mercer Advisors. A leader in the wealth management industry for over 30 years, he is a personal financial specialist, certified public accountant and former president, CEO and founder of Traust Sollus Wealth Management. His book, Master Your Cash Flow:  The Key To Grow And Retain Wealth, and his upcoming book, Master Your Cash Flow: The Key To Grow A Valuable Business, show readers how to achieve the wealth they need, find additional cash flow and, if saved, build wealth sooner, work less years or have more wealth to live the lifestyle they desire now and forever.

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Dear KidsOutAndAbout.com readers:

There's a truly wonderful perfomance coming up at Kingsbury Hall, and I think you and your children were love being a part of it. In Compagnia TPO's Farfalle, 

Two dancers move, play and paint in the air, telling the story of the slow metamorphosis of the butterfly. TPO’s “theater of the senses” weaves dance, storytelling, and visual experience into a magical hands-on performance like nothing you’ve seen before.

What makes this performance so special? The audience is invited to enter the performance space and interact with the beautiful, immersive world created through amazing technology on stage. As children explore the space on stage, they'll discover that their environment responds to their actions, and what follows is an experience where play becomes art and art becomes play. Staging, music, and dance will surround participants as they become part of the performance.

If you have kids who go to a performance and wish they could become part of the action, here's their opportunity!

Compagnia TPO: Farfalle
April 27 at 7 pm
April 28 at 11 am*, 3 pm, and 7 pm
at Kingsbury Hall
Tickets are $12 for adults and $5 for kids
Ages 4 and up

 
*The Saturday 11 am performance is a sensory-friendly performance, designed to create an atmosphere that is friendly and welcoming to families with children on the autism spectrum or with sensory sensitivities. More information is available here. 

If you'd like to get a better sense of what the show is like, click the image below for a preview.

 
This show is tons of fun and a perfect way to introduce youngsters to the theater or to entertain multiple generations. You don't want to miss it!

Keep in mind that seating is limited for this special production, so act quickly! For tickets or more information, click here. 

Best,

Debra Ross
Publisher, KidsOutAndAbout.com