It's just about that time of year again! We know that taxes are a necessary evil; however, my personal philosophy on paying taxes is to not pay any more than I must. Let me quote Judge Learned Hand who said: "Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one's taxes."
And with those words as a backdrop, the point I want to get across to you is that it's not how much you make it's how much you keep. And furthermore, it's also "how" you make your money (business vs W2 earnings) and how you spend your money. Take a cue from the 1% who typically have multiple (business) income streams and are almost without exception invested in the stock market and other asset-building ventures. More importantly they know how to use the tax code to their advantage, so today we want to talk about the 5 Rookie Tax Planning Mistakes (and if you're of a certain age, be aware of hook number 6!)
See also this website for additional information on deductions: https://money.usnews.com/money/personal-finance/articles/legal-secrets-to-reducing-your taxes
