Hello Sophisticated Spenders!
I read a really great quote yesterday:
Taxes are revenue neutral. The taxman takes and the taxman gives. Do what the government wants done and you get tax breaks.
I posted that on my Facebook page which led a comment asking for me to elaborate and here’s my response:
The government wants us to buy a house-there is a text credit for that.
They want us to have kids-there’s a text credit for that.
They want us to start our own businesses-there are HUGE tax benefits for that.
Become a landlord-there are lots of tax benefits for doing that too!
Invest in the stock market-if you lose money, you can write that off and if you make money you pay a lower tax rate on capital gains (15%).
The government wants us to save for our retirement, send our kids to college, and I bet there’s more that I don’t even know about…yet!
[tweetthis]Too many of us are sleeping on all of these opportunities to reduce our tax rates. [/tweetthis]
What do you think??? Do you agree or disagree???