Comments on: how to pay less income tax

By: Cherry Blossoms At Branch Brook Park

Cherry Blossoms At Branch Brook Park — Mon, 20 Apr 2009 04:12:34 +0000

[...] How to Pay Less Income Tax @ Brip Blap [...]

By: Writer's Coin

Writer's Coin — Fri, 17 Apr 2009 16:49:02 +0000

I'm totally with you on this one… I hate it when people that make more money complain about paying more in taxes.

Fine. Go back to making $30,000 then. See how you like it.

By: Business & Finance Blogs » Blog Archive » Friday Finance Findings for April 17th

Fri, 17 Apr 2009 15:55:43 +0000

[...] How to Pay Less Income Tax – Want to pay fewer taxes? Make less money. Ok, kidding aside, there is a way you can actually maintain or even increase your overall income while keeping taxes at bay. At least for now… [...]

By: Writer's Coin

Writer's Coin — Fri, 17 Apr 2009 09:49:02 +0000

I'm totally with you on this one… I hate it when people that make more money complain about paying more in taxes.

Fine. Go back to making $30,000 then. See how you like it.

By: Curmudgeon

Curmudgeon — Thu, 16 Apr 2009 20:39:06 +0000

You know, Steve, I really don't mind paying more in taxes, at least some taxes (and I am a softcore libertarian). If I'm paying more in taxes, it means

a) I am making more money (a good thing, for the most part);

b) I don't have debt (no mortgage deduction);

c) Live in a state with no income tax (you're going to one of those);

d) Or sales tax (you're out of luck there);

e) Have a fair amount of interest and dividend income (I save); and

f) Don't have any of the special-purpose deductions (a mixed blessing, but I think on the whole positive).

I have filed a Schedule C for my LLC for the past 15 or so years, and that gives me some decent deductions, though not perhaps worth the effort that I put into my business. But paying lower taxes may not entirely be a badge of honor.

By: guinness416

guinness416 — Wed, 15 Apr 2009 20:12:47 +0000

Can't speak to Iceland, but I have a feeling that ain't going to be true of Ireland much longer!

My in-laws in NYC make about $40k + what they make renting their basement out and a few other odd-job style things. They have a nice house in Forest Hills and a good lifestyle. No dinners in Per se or full price tickets to MOMA, but a good lifestye. It is possible.

By: Moneymonk

Moneymonk — Wed, 15 Apr 2009 18:48:30 +0000

Thr Rich pay 15%

The working person pay 25% or more so true

Im on my way to become my own boss

By: bubelah

bubelah — Wed, 15 Apr 2009 13:21:38 +0000

I disagree with you. Try not to pay property taxes on your house (even when fully paid off) and see WHO really owns your house!

By: Eden

Eden — Wed, 15 Apr 2009 13:05:29 +0000

Sad, but true.

By: Mr. ToughMoneyLove

Mr. ToughMoneyLove — Wed, 15 Apr 2009 10:30:37 +0000

You have hit upon one of the biggest reasons to pay-off a mortgage. A home that you own (and not the bank) can provide you shelter services month after month, i.e., imputed income, but it's all tax-free. As tax rates go up and investment returns remain uncertain, this benefit becomes even more valuable.