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Tax Planning & Advising


Ten Biggest Expenses of the American Family

For most American families, the largest expense is not even on this list.


According to many, the largest expense for the average family is housing or shelter. The typical rent or mortgage makes up approximately 18 to 30 percent of the family's income.

Social Security and Pension

Following this logic, the second largest expense for most families is Social Security and pension allocation. This money is generally taken out of the wage earners' paychecks; so many families may overlook it as an expense.

Utilities and Services

Adding to the cost of housing is the expense of utilities and services to your home.


A family's grocery bill is generally determined by the size of the family and age of the children. Obviously, a larger family will have a greater food bill, but growing children even in small families can raise the cost significantly.


Cars and other modes of transportation take a huge bite out of the family budget. Include the price of purchasing an automobile as well as auto insurance, fuel and maintenance.


Again, the size of the family and ages of the children determine the price of entertainment. This is one expense that can be cut if the budget gets tight.


Clothing is essential, and has to be replaced as people grow, styles change and the fabric wears out.

Health Care

Health care costs include health insurance, doctor visit co-pays and dental visits, prescription and non-prescription medication.

Charitable Contributions

If you are committed to making regular contributions to your church or charity, this is likely to be one of the 10 biggest expenses.


College and private schools drive up the expense in the family budget. If you have student loans, you'll want to include that to this expense line.

Like Social Security and pension allocations mentioned above, which most families overlook as an expense, TAXES are typically the largest single expense for the American family. Federal taxes, alone, can represent as much as 39.5% of the American Family’s earnings; most of which is collected before we cash our paychecks.

Look at the list again and recall how much time invested and importance placed researching, comparing, deliberating, and discussing before ultimately deciding:

  • Where You Live
  • What You Eat
  • What You Drive
  • What You Wear
  • How And Where To Relax
  • What Insurances To Purchase
  • Schools And Education

Assurity Tax Advisors doesn’t merely have CPA’s or IRS Enrolled Agents prepare tax returns, we look at all aspects of financial life for clients: Life, Wealth, Retirement, and especially Taxes.

From the beginning, Assurity Financial Group considers the impact of taxes on all of our strategies and recommendations. So when it is time to prepare your taxes, we are delivering on a plan that shrinks your largest expense as much as legally possible.

We are especially adept at assisting small business owners.





Tax Planning & Advising


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