We all deal with the struggle of paying our taxes. It's something that will never end, and sometimes it seems we were born in this world just to pay taxes.
We all deal with the struggle of paying our taxes. It’s something that will never end, and sometimes it seems we were born in this world just to pay taxes. Even though when tax refund season is over, we still get excited planning what we will do when we get our money back, but what are we so excited about? It’s money that we’ve already earned. However, how much are you really paying to the Government? Why is it that the more you make the more you have to pay? So, because in society’s eyes you’re doing better in life than others – and making more money – you have to give up more of your money. This doesn’t seem fair. Why isn’t our tax rate flat across the board no matter what you make? I often feel the Government is trying to trick me, and delights in taking everything we have.
If you’re a business owner then you know it is never a joy getting those funds taken out of your bank account. I’ve had the pleasure of owning my own business and paying taxes and somehow I feel that I was paying more than what I really should have been.
I struggle to really understand why so much is taken out of my paycheck every month. I see how much I earn, but then see hundreds of dollars are taken out every time. Well, we are paying for all those streets that are always under construction, we pay city taxes and list goes on. “Just Facts” did a study on how our tax percentage has grown over the last hundred years. Starting in 1929 everyone was only paying 10% and gradually up to 2014, we’re paying 29%. What is going to happen over the next hundred years? By the end of my lifetime are we going to be giving the government over half of our hard earnings?
While doing your taxes if you mess up in the slightest bit you get audited which then leads to huge fines and even worse you could be in criminalized with jail time. Either you are trying to hide information on your taxes or you made a simple mistake. When this happens it’s very hard to find help and to find someone who will get you out of this hole. I was recently reading a blog on a New York Attorney’s website and found it to be very helpful to help guide me in the right direction while doing my taxes.
Just because tax season is over doesn’t mean you’re off the hook until next year. If you’re not sure what to do while filing your taxes follow these three steps:
1. Use government tools to help. TaxSlayer is probably one of the most popular websites, and it is very helpful when filing your taxes. It is also a free website if you fall into a certain tax bracket.
2. Hire an accountant. CPA’s know what they are doing; they also know certain tax breaks that you might not be aware of or special credits.
3. Get a tax attorney. Having someone there who knows the ins and outs of taxes has the potential to save you money over time.
Sarah Cooley is a young writer who loves to experience life and travel. She enjoys writing about her experiences, and though she may be young, she has experienced much. Her dream is to travel every continent and write about her adventures.