“Render therefore to Caesar the things that are Caesar’s, and to God the things that are God’s.” – Matthew 22:21
Like you, my tax paperwork is due to be filed by April 15th. There is no doubt that doing the tax return is no fun to fill out every year. It has become a much easier task though since my wife became a CPA.
Talking about taxes sets our blood to a boil. We despise the fact that we work so hard only to see so much money taken from each paycheck. “Isn’t there a way to avoid it?” we ask.
That question should raise alarm bells for everyone. While certain maneuvers with money are legal, many others are not. If we are not careful, that question can lead us down a path of handling our money in a way that we might regret one day.
The unfortunate reality is that there is no silver bullet to avoiding an IRS audit. The IRS can choose to investigate and audit anyone they please at any time. Even low-income earners can be subject to an audit if the IRS becomes suspicious.
So no one was more surprised than I when two weeks ago I signed a two-year lease on a car. I felt a bit dirty doing it, like I was committing the cardinal financial sin and selling my soul away. So I’m writing today to explain my actions given the terrible track record leases have for the consumer.
Feeling a little charity-minded? Here are some tips that may help you come tax time.
To paraphrase Shakespeare, a tax by any other name would still smell as vile. But the Obamacare tax, otherwise known as the “individual mandate,” may be an exception. While I am not suggesting that you avoid the tax, it is clear that many people intend to do just that. A recent Gallup poll found that 34% of Americans intend to thumb their noses come tax time instead of holding them.