subject: Take control of your taxes [print this page] Take control of your taxes Take control of your taxes
As everyone knows, in America, we have one of our "favorite" times a year, the season returns. When you create and sustain prosperity in progress, it is inevitable to deal with your tax situation.
The term "direction", I mean really, is to take control. This applies if you live in the United States, or in any other country. Agree or disagree with the fairness "of taxes is a question that you need to get some basic information aboutunderstand if you want to significantly increase your wealth.
- Tax Problem
Before starting, let me say that I certainly do not not an expert in tax matters. And the room to go into detailed tax strategy. The objective of this work is to explain why it is important to reconsider the tax laws and strategies base, and above all, seek the advice of one of the real tax experts.
Why is it important to understand the fees?
In most cases, feesare the higher costs. This is probably the main reason that the very rich time, effort and money for everything we can to minimize their tax burdens. Depending on the amount of taxes, federal taxes can be as high as 28% -35% of income! And then there is Social Security, taxes, property taxes, sales tax, etc., etc. If you want to generate their income from their salary (income), you can keep the happiness that actually getting the 50% whatactually win.
- Tax Problem
This is an incredible, if you think about it. This means that if you have a salary of $ 50,000, you can instead of $ 25,000 of their income will be for their own needs.
If you think I am exaggerating, pull out the last payment and see the tax deductions for taxes, which were taken from the top of their income. If your net income and divide by the gross margin, which is that percentage? Do not be surprised if almost 40%.Then look at your sales tax. In California, sales tax of 8.25%. This is not just a quick calculation, I take about 48% of the costs of taxes (which most of the money is spent on taxable goods).
The cost of failing to do your taxes and everything legally possible to minimize, is enormous. Of course, tax laws can be very complex and make the punishment of an error are high. So many people simply acceptBig gains, as inevitable. Up to admit defeat, without even really trying to take steps to minimize the impact.
What action to take?
1) Recognize that you can do to reduce the tax burden. Too many people are blinded by the fact that it is impossible to significantly reduce their tax burdens. Or they think it is too complicated, too many problems, or they fear that the deductions that Slegitimate that the government will come after them. Assuming that there is nothing you can do () learned helplessness, you're right. If you think you can improve your tax situation, you're right. The fact is that while you must pay their share of the tax law, the government really wants to believe that to take advantage of tax breaks and loans. Therefore, the laws have been enacted to provide for her.
2) A commitment to the basic study of control, so that at leastenough knowledge to speak to an accountant with a degree of intelligence. It is not possible all the deductions we know. Because of the potential savings, the study of tax law should be an essential part of financial education. The two main priorities should be to prosperity in a more efficient and to protect themselves, create it. And any protection strategy must include protection of more taxes. Cabinets not only the textbooks. Alsosearch for classes in college, evening classes and seminars. But beware of the seminars, which can be much more expensive and is not completed as a sort of community college.
