Five thousand years ago in ancient Egypt, before money was even a thing, the Pharaoh’s men were already collecting a 20% tax on grain. Fast forward to Julius Caesar, and he introduces the world’s first sales tax. Not to be outdone, his great-nephew Augustus rolled out the first direct income tax. Can you imagine filling out Form MXL in Roman numerals? Since then, we’ve been hit with just about every kind of tax: property taxes, estate taxes, payroll taxes, excise taxes, carbon taxes—you name it. And yet, here we are in 2024 with a national debt of over $35 trillion.

Here in Portland, the average family is handing over around 30% of their income to federal, state, and local taxes. But it doesn’t stop there. Women are paying the "pink tax" on everything from clothing to personal care products. Many families, especially Black Americans, might even pay a “black tax,” helping out less financially secure family members. And now that fall’s here, let’s not forget about the one tax we all seem to love—the pumpkin spice tax!

Believe it or not, Starbucks first introduced the pumpkin spice latte back in 2003. Yes, the PSL is old enough to vote now, though it’s probably just as tired of politics as the rest of us. Since then, pumpkin spice has become a cultural phenomenon. You can find it in everything from Oreos to toothpaste and even beard oil. And if that’s not enough, Cardi B is selling “whip shots vodka infused pumpkin spice whipped cream.” (I’m still trying to figure out who thought that was a good idea!)

Here’s the kicker: most of these pumpkin spice products don’t even contain real pumpkin. It’s just the spices—cinnamon, nutmeg, ginger, and allspice. They’re tasty, sure, but a little phony. Kind of like some of the taxes you might be paying without realizing it.

Now, about that pumpkin spice tax. A couple of years ago, MagnifyMoney.com looked at prices for 80 different grocery and coffee products across several retailers. They found that Trader Joe’s in Portland was charging 161.1% more for Pumpkin Spice Teeny Tiny Pretzels compared to their regular Honey Wheat Pretzels. And Starbucks in Portland? They were tacking on an 18.3% markup for their PSL. On average, you’re paying about 14.1% extra for anything pumpkin spice. But if you’re a Target shopper in Portland, there’s good news—they actually charge 3.4% less for pumpkin spice products. Go figure!

And if you’re one of those people who’s over the pumpkin spice craze, you’re not alone. Internet searches for “pumpkin spice latte” have dropped 29% since 2018. Here in Oregon and other western states like Washington, Colorado, and Arizona, searches are still relatively high, but they’ve plummeted in places like Vermont, Mississippi, and Maine. Maybe some parts of the country are just ready for something else.

Now, as much fun as it is to joke about the pumpkin spice tax, there’s a more important tax I want you to pay attention to: your actual tax bill. I’m Daveed Tuck, a Portland-based tax consultant and Ex-IRS Auditor, and I’m here to help you avoid paying more than you should. Whether you’re looking to minimize payroll taxes, navigate estate taxes, or just make sense of Portland’s local tax codes, I’m ready to work with you to build a strategy for 2024 that keeps more of your money in your pocket.

If you’re in Portland and want to get ahead of your tax planning, reach out to me today. Whether you’re a small business owner, a retiree, or just need help filing your taxes, let’s start planning for 2024 now so you’re ready when the time comes. I’m here to make sure you don’t miss any opportunities to save on taxes—real taxes, not the pumpkin spice kind.

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