Tag: taxes
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Take advantage of this big tax savings in 2022
While we all have to pay taxes, and most just blindly accept this fact, there are some things we can do to minimize the impact. Below we’ll explain a major tax savings opportunity for 2022.
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Here is why everyone is afraid of the IRS
When anyone hears the acronym ‘IRS’, which stands for Internal Revenue Service, they experience a quick bout of fear, followed by a moment of relief that they’re not on the audit list, followed by thoughts of wonder as to why the IRS even exists. This is completely normal behavior, and we’re here to support you!
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Lower your property taxes, now!
Each and every year for eternity, homeowners await a dreadful day in the tax world. This is the day that annual property tax notices arrive, notifying homeowners how much money they’ll forfeit to their municipality (could be plural, also), in order to continue living in their home. Yes, that’s right. Not only do you pay interest on that mortgage, but you also pay the county for the right to live in the home. How can anyone argue with such a wonderful tax (heavy sarcasm implied).
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Keep more of your hard-earned coin; understand tax write-offs and credits
There is a fundamental misconception regarding tax write-offs, and furthermore, credits as well. You would think that people would take these things more seriously because it involves their money, but they don’t. Instead, they keep their head in the sand and repeatedly tell themselves that everything will be okay. Well, it won’t. Stop giving Uncle Sam extra money!
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Property taxes: how to beat a rigged system
If there is one guaranteed, sure-fire way to keep the poor down, it’s property taxes. Just think, you spend 30 years working hard to pay off your home. You’ve finally made it. You have achieved the American dream – homeownership. But wait, you don’t “technically” own your home. It’s crazy, right? Well, not really. After all those years of making timely payments, the government still holds a controlling stake in your property, and honestly, they will forever. Keep reading as we talk about some ways to lessen the blow of these taxes.
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Don’t miss the tax law change that can lessen the blow of childcare
When you hear ‘tax law change’ you probably freak out and start imagining the IRS taxing your food, or possibly your water, or maybe your 1967 Chevelle you just purchased (oh wait, the IRS already taxes all of those!). Well, don’t fret, because the IRS has good news this time. Read on for a very simple way to lessen the financial blow of childcare (no, it’s not putting your kids up for adoption).
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You’re paying way too much in taxes; Spend more time working for yourself
Taxes are a topic that very few people understand. I constantly hear the terms credit, deduction, and write-off, all intermingled in an incoherent way that is certain to signal a lack of tax code understanding. I can’t tell you how many times a married friend or co-worker has said, “man, this mortgage interest is really helping me on my taxes”, not understanding that they would need to deduct approximately $25k in said interest in order to change their tax situation (barring other large deductions). Fear not, I’m going to give you a 5-minute crash course on taxes, not by using fancy terms, or by quoting tax code, but by laying it out in numbers instead! With that said, I do need to give a few definitions to get you started.