Do you ever feel like taxes are that one nightmare you’ll never be able to wake up from? Perhaps you’ve finally yielded to the old mantra by Winston Churchill that says there is no such thing as good taxes.
I get it; every once in a while everyone feels like taxes are just too much for us.
But the truth is that taxes don’t have to be a matter of life and death, at least not when approached in a calculative manner. In fact, if you think of it critically, taxes are what makes it possible for you to enjoy that piece in your country to be able to go to work and make a living for you and your loved ones.
Without raising revenue to sustain government activities, all thriving economies you know of today would be chaotic; no one would ever be able to do business, not even wealthiest individuals today.
We’ve spoken to a lot of individuals and businesses about taxes; most of them find taxes to be the one thing that keeps worried at least every once in a while. For this reason, we decided to put up this post to show you that taxes don’t really have to be as scary as they seem.
So, before you freak out about filing and paying for taxes, below are three good reasons why taxes aren’t nerve-racking after all:
Reason#1. Knowledge should be your number one weapon
They say knowledge is power; learning and understanding your local tax system can be the best investment in you. Consider researching how taxes in your space work; it may not be possible to learn about every operation of the taxman, but you should start by narrowing down to your area of interest. Also, speak to knowledgeable persons and state agencies in the field of taxation; you’ll be surprised at how much information is out there for free.
Reason#2. Take advantage of free tax tools
Free is good, right? Well, studies show that more than 75% of humans are aroused by the word “free”. According to behavioral economist Dan Ariely, free is, in fact, more effective than “almost free” when it comes to motivating humans. So, whenever you see a useful tool with the tag “free” on it, why not obtain some value from it? After all, it’s free right?
In this era of the internet of things, you can get all the help there is about your taxes from the comfort of your home. Tools such as Turbo Tax, Tax Caster, Education Credit and Deduction Finder can help you stay on top of your taxes. So, next time you think of taxes, simply slide into one of these platforms and try to see how things work.
Reason#3. It’s time to focus on deductions and credit
We tend to focus more on what we owe than what we’re owed. I’m not with the IRS but I’m pretty sure that if data from their offices was to be analyzed, many people might be shocked to realize that if only they made a simple follow-up of those numerous deductions that always seemed to be minor, they might actually have paid half or less than what they submitted in taxes. The point is, you need to focus on what you’re owed just as much as you focus on what you owe.
Help Is Always A Phone Call Or Email Away
You don’t have to go it alone; you can always get timely solutions for your problems just by talking to the right person.
Don’t be shy to speak to a bookkeeper, a CPA, or a tax agency about your tax situation; sometimes all it takes is to point you to the right direction and you can finally see taxes just like any other bill that’s necessary for a sustainable livelihood.