How Do You Spell Tax Relief? “Start Your Own Business Now”.

How Do You Spell Tax Relief? “Start Your Own Business Now”.

How Do You Spell Tax Relief? “Start Your Own Business Now”. image 0

YOU are playing a lifelong high stakes game called TAXES. It began the moment you were born and unless you decide to live your life like a hermit in a cave (and I have mulled over this many times by the way) you have no choice but to play.

The rules to this game are not taught in any public school. But ignorance of those rules means YOU LOSE. Terribly sorry.

Taxation is the government’s only form of income and in their eyes you and I are sources of income and we remain so until we die. From the government’s viewpoint if your family is blessed to have a child, you have just created a new taxpayer.

An unpleasant trend has been in the works for some time now. Governments everywhere are bankrupt and are milking taxpayers more and more. Increasingly options which used to be available to us to decrease our tax load have been done away with. Every year fewer tax shelters and deductions are left and there are more regulations to limit tax planning. The government is clearly out to extract as much from us as is possible.

How Do You Spell Tax Relief? “Start Your Own Business Now”. image 1

The truth is that the brunt of the taxes is borne by those least able to afford them. Loopholes available to corporations and the wealthy mean that many pay very little income tax. Not so for those on fixed wages. Before you even see your paycheck the government has already grabbed a large portion of it. At tax time some of that money is paid back but does the government pay you interest on the money it borrowed from you and held all year?

The taxation system itself is grossly unfair and we are all overtaxed. Recently in 2009 General Electric not only paid nothing in taxes on reported earnings of over $10 billion, it collected a tax benefit of over $1 billion.

The procedure of collecting tax money from you by the government is a little like the farmer who gets ready to pluck his geese. The farmer is put off by the ones that bite and hiss and will move on to easier pickings.

In Canada where I live if you believe the government has unfairly assessed your income tax you have the right to challenge it by bringing your case before a tax court.

How Do You Spell Tax Relief? “Start Your Own Business Now”. image 2

Governments do not like to be challenged in a tax court. They will avoid it if they can. It looks bad when they are heavy handed and if the word gets out often enough the taxpayers could revolt.

By hissing and biting and standing up for your rights, the odds are decent your auditor just might move on and choose a more compliant goose.

My advice is, if you are not already in business, start one RIGHT NOW. Begin the process of reducing your income through legitimate business expenses. And, start searching around for professional advice on how to defend your rights as a taxpayer.

Watch the video of this article, and visit Dev Khalsa’s site to learn more about how to be successful in your own business.

How Do You Spell Tax Relief? “Start Your Own Business Now”. image 3

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