Most people think about taxes once a year—in April.
You fumble with some crumbled receipts. You collect your W-2’s. Then you sort of hold your breath and squint your eyes until it’s over.
If you get a refund you are elated, and spend it several times over before you even see the actual money. Or you owe—and you are depressed or panicked or both. But either way, as soon a humanly possible, you slam the door shut on your taxes, eager to live blissfully unaware for another year.
So why are we talking about taxes in September? Not to cramp your ignorance-is-bliss style or anything, but here is the thing, taxes are the single largest expense of your entire life. If you add up all the taxes (sales tax, gas tax, income tax, property tax,…) over your lifetime, well, maybe you don’t want to do that. It’s staggering.
It is my opinion that you should pay as few taxes as legally possible. The good news is there are ways to minimize your taxes. It just takes some planning.
If you can’t wait until next week for more whiteboard wisdom, you can view the entire library here. If you have a question or an idea you’d like us to address in a future Whiteboard Wednesday episode – we’d love to hear from you! Email us at [email protected]
Until next time…