“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

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5 Things to Know to Get the Most Out of Your Taxes This Year

Monday, February 3, 2014, 1:00 AM | 1 Comment

When filing taxes, you can actually do a lot to save money and avoid overpaying Uncle Sam. There are a lot of “tricks” to the trade, but you need to know those tricks if you want them to benefit you. However, most people don’t do this as they are too busy, procrastinate, or do not […]

Managing Your Small Business Taxes

Friday, January 31, 2014, 1:00 PM | Leave Comment

One of the most challenging tasks that small businesses have to take on every year is preparing for and filing their federal income taxes. As getting all of your financial documents organized and staying compliant with the ever-changing tax code can be a significant challenge, there are five tips that all small business owners should […]

5 Tax Credits You Should Take Advantage of Before 2014

Monday, December 30, 2013, 1:00 PM | 1 Comment

As 2013 comes to a close, most people are thinking about the holidays. Those who like to look ahead are already preparing to limit their tax expenditures for the current tax year. The end of the year is a great time to make charitable donations, but there are additional options that can cut the average […]

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Wednesday, December 25, 2013, 1:00 AM | 1 Comment

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Five Helpful Tips For Reducing Your Tax Rate

Thursday, December 5, 2013, 1:00 AM | Leave Comment

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5 Best Kept Secrets That Make Filing Taxes Easier

Saturday, September 21, 2013, 1:00 AM | Leave Comment

Tax time is something that most people do not look forward to each year, especially if they plan on owing more money to the government. The process of gathering up the necessary paperwork and sitting down to fill out numerous government forms can be a real pain. Fortunately, there are some basic tips that any […]

Tips to Reduce Your Taxes with Miscellaneous Deductions

Saturday, September 7, 2013, 1:00 AM | Leave Comment

Before you know it, tax season will be upon us. It’s less than four months away. For many folks, it’s like hurricane season. However, when you think ahead and are prepared for it, it’ll be like a morning breath of fresh air – a welcome relief. So far as deductions go, some folks will take […]

Are Australian Companies Ready for the 2013 ATO Crackdown?

Friday, February 8, 2013, 2:00 AM | 5 Comments

In September, 2012, the Australian Tax Office announced a crackdown on dubious tax return claims will follow, come the end of the 2012-2013 fiscal year. And while that ending is some six months away, the measures implemented since by the ATO showed they really meant business this time. In September, the ATO blocked tax returns […]

Tax Software To Help You Do Your Taxes

Saturday, January 19, 2013, 6:00 AM | 6 Comments

Albert Einstein used to say “The hardest thing in the world to understand is the income tax.” 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 […]

Understand Basics Of Your Income Tax Return

Wednesday, January 16, 2013, 6:00 AM | Leave Comment

It’s that time of the year again when we have to file our income tax return. A surprising number of taxpayers remain vague about basic tax knowledge, preferring instead to transfer full ownership of their returns to a professional or computer system. This is the middle of January. You may or may not have received […]