There is a lifelong high stakes game going on and it's called TAXES. Whether you are aware of it or not, YOU are player in this match. Your name was entered without your permission when you were born and you have no choice but to play. Unless of course you want to live your life as a hermit (and that sometimes does appeal to me).
The rules to this game are not taught in any public school. But ignorance of those rules means YOU LOSE. Terribly sorry.
Taxation is the government's only form of income and in their eyes you and I are sources of income and we remain so until we die. From the government's viewpoint if your family is blessed to have a child, you have just created a new taxpayer.
There is a nasty trend happening now. Bankrupt governments everywhere are squeezing taxpayers more and more. Many methods which were available to taxpayers to minimize their tax load have been eliminated. Fewer tax shelters and deductions remain every year and more rules have been introduced to curtail tax planning. It is clear that the government's mission is to extract as much as citizens will tolerate.
The greatest burden of taxes is paid by those least able to bear it. Tax loopholes that are available to the wealthy and corporations mean they often pay very little. Taxpayers are then left out in the cold as governments get their hands on a large share of their paychecks before they even see them. Once a year the government returns some of that money but does it ever pay interest on that money it withheld from you all year?
We are all overtaxed and the taxation system itself is grossly unfair. Even though General Electric had earnings of over $10 billion in 2009 it not only paid nothing in taxes, it recorded a tax benefit of over $1 billion.
The procedure of collecting tax money from you by the government is a little like the farmer who gets ready to pluck his geese. The farmer is put off by the ones that bite and hiss and will move on to easier pickings.
I live in Canada and here we have the right to bring our case before a tax court if we feel the government has unfairly assessed our income tax.
A tax court can be a public relations disaster for the government and they will avoid it if at all possible. The geese start to notice when the government is heavy handed and there could be a revolt if the word gets out often enough .
By hissing and biting and standing up for your rights, the odds are decent your auditor just might move on and choose a more compliant goose.
So here's my advice my friend: 1. If you do not already have one, start a business RIGHT AWAY and decrease your income through legitimate business expenses. 2. Start searching around for professional advice on how to defend your rights as a taxpayer.
The rules to this game are not taught in any public school. But ignorance of those rules means YOU LOSE. Terribly sorry.
Taxation is the government's only form of income and in their eyes you and I are sources of income and we remain so until we die. From the government's viewpoint if your family is blessed to have a child, you have just created a new taxpayer.
There is a nasty trend happening now. Bankrupt governments everywhere are squeezing taxpayers more and more. Many methods which were available to taxpayers to minimize their tax load have been eliminated. Fewer tax shelters and deductions remain every year and more rules have been introduced to curtail tax planning. It is clear that the government's mission is to extract as much as citizens will tolerate.
The greatest burden of taxes is paid by those least able to bear it. Tax loopholes that are available to the wealthy and corporations mean they often pay very little. Taxpayers are then left out in the cold as governments get their hands on a large share of their paychecks before they even see them. Once a year the government returns some of that money but does it ever pay interest on that money it withheld from you all year?
We are all overtaxed and the taxation system itself is grossly unfair. Even though General Electric had earnings of over $10 billion in 2009 it not only paid nothing in taxes, it recorded a tax benefit of over $1 billion.
The procedure of collecting tax money from you by the government is a little like the farmer who gets ready to pluck his geese. The farmer is put off by the ones that bite and hiss and will move on to easier pickings.
I live in Canada and here we have the right to bring our case before a tax court if we feel the government has unfairly assessed our income tax.
A tax court can be a public relations disaster for the government and they will avoid it if at all possible. The geese start to notice when the government is heavy handed and there could be a revolt if the word gets out often enough .
By hissing and biting and standing up for your rights, the odds are decent your auditor just might move on and choose a more compliant goose.
So here's my advice my friend: 1. If you do not already have one, start a business RIGHT AWAY and decrease your income through legitimate business expenses. 2. Start searching around for professional advice on how to defend your rights as a taxpayer.
About the Author:
Watch the video of this article, and visit Dev Khalsa's site to learn more about how to be successful in your own business.