Taxation with representation is the motto that made the government's garnishing of earnings and investment income part of the
country’s budgetary process. Over the last two centuries, the tax code has grown to the most complicated and convoluted document ever created by a modern society.
However, the rules of engaging the IRS code has evolved into a sophisticated game called tax preparation, where the minions in the accounting field micromanage your return to minimize the amount of tax you are compelled to pay. But if you’re a “do-it-yourself-er”
there are three itemized categories to become familiar with: tax exemptions, tax deductions and tax credits, to offset your earned and investment income.
Steve and Ken familiarize you with an introduction to the 1040 world of government taxation, because tax rates are rising. Manipulating the system to keep more of your money is the new game in town.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Steve Savant is the host of the daily producer show, Let’s Get Down to Business, and the weekly consumer show, Steve Savant’s Money, the Name of the Game. Both shows are sponsored by Ash Brokerage. Steve is the #1 online author and videographer of insurance content. Steve has been cited on FO... More
Steve Savant recently shared that Low interest rates make it tough to retire – USA Today. But the secondary annuity market pays above fixed interest rates from many highly rated carriers. It’s a game changer! http://usat.ly/1mrK5cm