Portland Tax Consultant Insights
Portland Tax Consultant Insights
As the air turns crisp and leaves change color, one thing becomes clear: pumpkin spice season is upon us. From lattes to candles, Oreos to even beard oil, this flavor has become a fall staple. But did you know there’s more to this trend than meets the eye? Yes, I’m talking about the Pumpkin Spice Tax—the unofficial, hidden markup on all things pumpkin spice.
Let’s dive into the spicy details, uncover how ancient taxation compares to today’s modern system, and why you might be paying more for that pumpkin spice latte than you think!
A Look Back: Taxes from Ancient Times to Now
Taxes have been around for millennia. In ancient Egypt, pharaohs levied a 20% tax on grain harvests. Fast forward to Rome, where Julius Caesar introduced the first-ever sales tax, followed by Augustus who introduced income taxes. Today, taxes have gotten a bit more complicated: we have property taxes, payroll taxes, estate taxes, and even sin taxes!
Yet, with all these taxes in play, the U.S. national debt still sits at a staggering $35 trillion. And in Portland, the average family pays about 30% of their income in taxes—federal, state, and local combined.
But taxes don’t stop there. Every fall, there’s another kind of tax Portlanders face: the Pumpkin Spice Tax.
The Hidden Cost of Pumpkin Spice
Since Starbucks introduced the iconic pumpkin spice latte in 2003, the flavor has skyrocketed in popularity, appearing in everything from Pringles to toothpaste. But here’s the kicker: most of these pumpkin spice products don’t even contain pumpkin! They’re just a blend of spices—cinnamon, nutmeg, ginger, and cloves.
So, where does the "tax" come in? A study found that pumpkin spice products are marked up significantly:
- Trader Joe’s charges a whopping 161% more for their pumpkin spice pretzels.
- Starbucks adds an 18.3% markup on their beloved pumpkin spice latte.
- But if you’re a Target shopper, you’re in luck—they charge 3.4% less for their pumpkin spice items!
Pumpkin Spice Trends Are Changing
While Portland remains one of the biggest markets for pumpkin spice, there’s some good news for those who think the trend is overrated. Searches for pumpkin spice lattes have dropped by 29% since 2018. Still, whether you’re a pumpkin spice lover or not, the hidden costs of this fall favorite are something we should all be aware of.
Lower Your Real Taxes with Anvil Tax
While we may not be able to help you avoid the Pumpkin Spice Tax, we can definitely help you save on the taxes that really matter. At Anvil Tax, we specialize in tax strategies for realtors, small business owners, and individuals. Whether you need help with tax planning, IRS audits, or small business tax advice, we’ve got you covered.
Watch the Full Video: The Pumpkin Spice Tax Explained
Want to learn more? Check out our latest video on The Pumpkin Spice Tax, where we take a deeper dive into the history of taxes and how the pumpkin spice trend fits into it all. Click the link below to watch!
Watch the Video: The Pumpkin Spice Tax
At Anvil Tax, our mission is to help you lower the taxes that impact your life, save time, and stay compliant. Schedule a right-fit call today to see how we can work together to build a solid tax strategy for you or your business.
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