April 15 is just around the corner and everyone should have their tax forms filled out or be close to it. Taxes are a way of life and we do get good services for our taxes. Protection, good roads, and education are but a few of the services that the government provides.
There are also services provided that I do not agree with such as subsidized abortions but that is why we have elections to vote for those people who would support our views.
If you are a W-2 employee, you will normally pay a lot more taxes than someone who operates a business. The tax system in the United States is geared towards helping businesses as they are taking risks and providing needed employment.
As a business person, you get to deduct expenses related to the operation of that business. These deductions would include the following: auto and travel related expenses, office expenses, phone-cell phone-Internet services, a portion of business related meals, to name a few. This is not a comprehensive list by all means but provides insight into why having your own business is the way to go.
By having a business you have the potential to build wealth, provide employment, and contribute to the welfare of society in general. You also have more control of your long term success instead of being dependent on your boss or job.
Over the next days, I will be going over the need for everyone to have some type of business, even if they are presently working full time for someone else.
Jacques
CreatingWealthThatLasts
2 comments:
Hi Jacques .. it's good to be in a position to pay taxes .. it means you're in employment, or you have your own business - this day and age a good position to be in.
Hilary Melton-Butcher
Positive Letters
Jacques, thank you for the post on taxes. I agree with you they do a lot of good things with our taxes. I am with you on the abortion part as well.Having your own business is a very good way to go. It helps to not have all of your eggs in one basket, that goes for your income as well. If you are going to a job and tomorrow they give you the pink slip it is nice to have another source of income coming in. Then it is not as difficult as it might be. Have a great day.
Dan and Deanna "Marketing Unscrambled"
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