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Don't Pay More Tax Than the Law Requires!

There is a certain mystique that has grown up around tax planning and tax cutting. Many people feel that cutting taxes means hiring high-priced experts to find "loopholes" in the law, a technique only for rich people. The fact is that the law is the same for everyone, and the same tax-cutting strategies are available to everyone.

The difference is that some strategies can be fairly complicated and costly. Doing certain things to save taxes can tie up funds or assets and reduce your ability to do what you would like with what you have. For wealthy people, such techniques save many dollars and are worth the time, cost, and loss of freedom and flexibility. For the average taxpayer, this may not be the case.

 

But everyone can use the tax law to his benefit to the degree that seems to make sense for him.

No one is required to pay more tax than law demands.