Fear of the IRS, Fear of keeping accurate records and a lack of understanding of even the basic tax laws are preventing many Americans from having more money to spend when they cash their weekly or monthly paychecks. Yet, everybody thinks that they are paying too much in taxes. How can this be? Let’s discuss these three areas and let me show you how to move past FEAR and reduce your taxes and maybe even gain some additional income or revenue in the near future. sbcglobal email
1. Fear of the IRS
First, if you are not a criminal and don’t break laws on a frequent basis you have no logical reason to fear the IRS. When you obey the law, there is no reason to bring Law Enforcement upon yourself in the form of the IRS. That is, if you understand and follow tax laws passed by Congress and authorized in the Internal Revenue Code, would you have any reason to fear an IRS audit? That is a flat NO. A taxpayer(I hate this term) has a 1% chance of being audited. That is very low odds. Secondly, if you understand and obey the legal tax laws you have a 100% chance of having nothing to fear. These are very high odds.
2. Fear of keeping detailed records
Today with the amount of technology we have there are many ways to easily and without spending huge amounts of time keep accurate records. Also, without using technology there are accurate systems you can use taking less than five minutes of your day. The Keys are to have the information to understand what is required and by obeying and following the tax laws set up by Congress of this GREAT UNITED STATES.
3. Lack of Understanding basic tax laws
It is amazingly easy to qualify for thousands of dollars in LEGAL tax deductions. I’m not talking about Tax-Dodges or Tax Schemes. With so many legal deductions, who has to resort to breaking the law? There are many books written about tax reduction but only a FEW that are easily understandable in plain English by average Americans. Do your research and seek out an author who presents LEGAL tax deductions.