“The hardest thing in the world to understand is the income tax.” - Albert Einstein, physicist. Well! It may be connected to his theory of relativity but, being a physicist that he was, he didn't think of the U.S. tax system in reverse. It would have been a lot easier for him if he understood two things:

  1. The more you make, the less you pay - ever heard of loopholes?
  2. The less you make, the more you pay - never heard of loopholes?

Filing tax returns, for some, is like going to the dentist. If you have flossed once a day and brushed twice a day regularly, then going to the dentist should be a breeze and not something to dread upon.

So keep records of all your income and expenses. Figuring out your tax returns should be a breeze as well.

Always remember this golden rule:
You earn your money in pre-tax dollars but you spend them in post-tax dollars.

Don't try to fool IRS

Al Capone was not sent to jail by Eliot Ness
Al Capone was sent to jail by IRS

How to Make Money with Your Tax Return - INFOGRAPHIC

 

 

 

 




 

 

 

 

 

 

Australian tax calculator
http://www.industrysuper.com/calculators-and-tools/calculators/

 

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4 Ways to Lower Your Taxes Before the New Year

Saturday, November 26, 2016, PM | Leave Comment

It’s easy to only think of taxes during tax season because we force ourselves to think taxes at that time of the year. However, anyone who is financially savvy knows making changes throughout the year can give you the best chance to make a difference in your tax bill. With more than a quarter of […]



4 Ways to Boost Your Tax Return for Next Year

Friday, July 22, 2016, AM | Leave Comment

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Death and Taxes: 5 Ways to Plan Your Estate the Right Way

Wednesday, December 23, 2015, AM | Leave Comment

When a person passes away, one of the greatest gifts they can leave behind is a well-planned estate. Here are five steps you can take to make sure that your loved ones will benefit from the directives of your will in the way that you intend. Assemble an Estate Planning Team An estate planning attorney […]



How To Be Forgiven of Tax Debt You Cannot Pay

Tuesday, December 8, 2015, AM | Leave Comment

Perhaps the IRS’s best-kept secret is that you can be forgiven of tax debt you owe but cannot pay. There are four programs of tax debt forgiveness and millions of people have used the programs. PROGRAM ONE – Uncollectable Status If you owe taxes but are either unemployed or underemployed and cannot make a payment, […]



IRS tax debt relief – Reasons & Solutions

Monday, November 23, 2015, AM | Leave Comment

IRS tax debt has to be the toughest debt situation to be in. This is due to the fact that the IRS has debt collection powers that everyday creditors don’t. The Internal Revenue Service will make sure they recover the money they are owed. In order to do this, the IRS has the power to […]



Tax Courses Open Up Opportunities to Overview the Income Tax System in Australia

Tuesday, June 16, 2015, AM | Leave Comment

It never hurts to maintain a solid grounding about the Australian income tax system. Not only are tax courses helpful for entrepreneurs who want to prepare tax returns, they also benefit the employee or payroll worker by showing him or her allowances and deductibles are featured in a country’s tax system. A Great Revenue Generator […]



Understand The Two Different Kinds Of Capital Gain Taxes

Friday, May 29, 2015, PM | Leave Comment

When you invest your money, for example, in stocks and then sell it at a profit, you have to pay taxes on the profit which is commonly known as capital gain taxes. When you sell it at a loss, obviously, you don’t pay taxes on your loss but you can offset it with any capital […]



Tax Professionals Are In Demand

Wednesday, April 29, 2015, AM | 2 Comments

Tax jobs are on the rise. Each day tax professionals are recruited to fill openings. Tax jobs run the gamut from working in a corporate environment to working for a private trust. In-house jobs for FTSE-listed, family offices, small to medium-sized enterprises and owner managed business are always an option. Recruiters know what jobs are […]



Keeping Good Records Reduces Stress at Tax Time

Friday, January 30, 2015, PM | Leave Comment

You may not be thinking about your tax return right now, but pretty soon you will be sweating all over looking for receipts and other types of records you would need to file your taxes. Now is a great time to start planning for next year and to make sure your records are organized. Do […]



Reminder: A Summer Adjustment Can Prevent a Tax-Time Surprise

Sunday, August 24, 2014, AM | Leave Comment

When it comes to filing a federal tax return, many people discover that they either get a larger refund or owe more tax than they expected. But this type of tax surprise doesn’t have to happen to you. One way to prevent it is to change the amount of tax withheld from your wages. You […]



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