Comments on: how to pay less income tax

By: Grant Webb

Grant Webb — Tue, 29 Nov 2011 19:55:14 +0000

There are lots of good suggestions here. I plan on taking advantage of some of the good ideas I’ve found here. Even though there is no way around paying federal income taxes in this country, there are ways to avoid having to pay the same % as someone else in your tax bracket. By studying accounting and then actually passing the national CPA exam. This type of training will teach the ways of avoiding paying what everyone else pays. Over the last two years I have paid a total of $211.00. There’s not too many people out their that make 50k plus a year and pay such little income tax. Hopefully this helps you in the same way your site helped me.

By: Emirates Jobs

Emirates Jobs — Wed, 07 Apr 2010 13:40:01 +0000

but why will i choose to be unemployed rather than having a job and paying taxes? yes its true that if you dont have a job taxes are not that high but still its better to have a job paying taxes than not having a job at all.

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 [...]

_{»crosslinked«}

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 17:48:30 +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.

By: Chad @ Sentient Money

Chad @ Sentient Money — Wed, 15 Apr 2009 09:06:23 +0000

“The US tax code favors people who earn less from income and earn more from income-generating assets – it’s that simple.”

So, true. Buffett always points out that his secretary pays a higher tax rate than he does, because he gets all of his money from income producing investments and she gets her's from a salary.