“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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Sunday, August 24, 2014, 1:00 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 […]

3 Steps To Revisit Deductions In Your Workplace

Saturday, June 28, 2014, 1:00 AM | Leave Comment

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Tuesday, April 1, 2014, 1:00 AM | 3 Comments

The biggest difference between tax avoidance and tax evasion is that one is legal and the other is not. Reducing or completely avoiding tax liability is recognized as a taxpayer’s right by the Internal Revenue Service (IRS). Tax evasion, however, is a crime that is punishable by law; it can result in fines of up […]

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

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

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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

Some people wait until the last minute to file taxes. That is usually because they owe the government money. However, if you are expecting a tax refund, you might be looking forward to getting your taxes filed as soon as possible. Lots of folks already know how they are going to use the extra money. […]

Five Helpful Tips For Reducing Your Tax Rate

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

Each year, Americans dutifully file their personal income tax return to the government. This return lists your income, business gains and losses as well as any deductions to your income. What are some deductions that you may be eligible for that could reduce your tax rate this year and in future years? Take The Earned […]

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 […]