3 Concepts to Think About Regarding Taxes

According to www.marketwatch.com, there are a few things you should be doing to start off the year right in terms of taxes.  The first concept is that you should be taking enough exemptions to avoid paying more taxes than you need.  Why should the government get an interest free loan from you?

Robert Kiyosaki actively discusses paying yourself and your expenses before paying taxes.  How can you do this?  Through a business.  Is it fair that someone making close to $120,000 is in the 5% tax bracket while someone making only $60,000 a year pays $15,000 in taxes.  This equates to earning about half the pay and paying almost 3 times in taxes.

You can watch a video at www.youtube.com that talks about how to think about paying taxes.  He discusses some historical background.  Have you ever assumed that because you live during a certain time period that those laws have always been that way?



The final area where you can make a huge difference is by getting involved and actively learning about tax law.  Do you have a better chance of winning the game if you know the rules?

What have you done to learn the rules of the money game?  Do you believe that money is the root of all evil or do you believe the love of money is the root of all evil?

This post was reposted from http://finlit.biz/business/3-concepts-to-think-about-regarding-taxes/, originally written on February 7th, 2013.