At this point it’s a cliché, but true. There are two things you can’t avoid in life: paying taxes is one of them.
Instead of grumbling, it’s important to understand that paying taxes is our way of contributing to the greater good of society – for example, the roads, schools and services we depend upon each day. Taxes are an integral part of our history, too, the very reason we fought for our independence. When the Constitution was written, provisions were created so that taxation could be doled out fairly, efficiently, and responsibly.
Though you may or may not agree on taxes politically, it’s your civic duty to pay them. Of course, it’s helpful to understand:
- Why you pay them
- How to pay them without penalty
- Ways to avoid overpaying them
The next time you fill out a Form W-4, you can do so with a smile on your face and pride in your heart. When you think about it, taxes are kind of a privilege. A patriotic…joy!
Okay…maybe not a joy.
The point is, in the wise and immortal words of Benjamin Franklin: “In this world nothing can be said to be certain, except death and taxes.”
So you might as well get used to them.
Generally speaking, the taxes we pay are based on income. The rest of the taxes we pay are as varied as a rainbow, and include just about every hue in between – both seen and unseen.Learn More
To make paying taxes a bit easier, the government has devised two ways of paying yours over the course of the year instead of one, springtime lump sum.Read More
Everybody loves receiving an income tax refund, and nobody enjoys being slapped with a tax penalty in the spring. Neither scenario has anything to do with luck, or lack thereof. Both are simply the result of ineffective income tax planning.Learn How