Where To Get Help For Taxes
The tax system, while designed to be as simple as possible, can throw some people “for a loop”. Due to the fact that each taxpayer has their own unique set of circumstances, there is generally never a clear cut path that everyone follows to a T.
For example, a self employed person is responsible for paying a larger amount in taxes every year than an employed person, as they don’t have an employer by their side to make a matching/larger contribution to the tax system. They’re totally on their own.
However, for both employed and self employed people, there are deductions and credits that can be applied, reducing the overall tax liability/burden.
Additionally, the United States tax system is set up to operate according to a marginal sliding scale. The more you make, the higher percentage of your income you pay towards taxes. Currently, an employed person can expect to pay 10% (at the least), and 35% (at the most).
I Want To Learn More About My Taxes! Where Can I Go For Help?
The Internet is a great place to learn about the U.S. tax system. There’s tons of resource sites where you can brush up on your skills, and even complete beginners can learn everything about the tax system using the power of an Internet connection and web browser.
Tax Preparation Classes – Being able to manage your own taxes not only saves you money over the cost of paying a tax preparer service to do it, but it also gives you the knowledge you need to know to be powerful in your own life.
H&R Block offers tax preparation classes online, and so do some other online sites.
For example, if your tax situation suddenly changed, would you know how to handle it, or would you be scrambling for the phone to contact your tax preparer to find out what was going on? Knowing your individual tax circumstance, as well as being aware of the variables that could possibly change, puts you in better control of your own outcome and allows you to make plans for the future.
Being Able To Teach Other People How To Manage Their Taxes Can Be Really Profitable!
Not everyone is a computer wiz, and some people who are in the work force don’t want to be bothered with using a PC to handle their tax situation. That’s why, when you learn a lot about the tax system, you’ll be in a better position to offer help to people you know that can benefit from your knowledge.
And truly, many people are willing to pay to be taught about what deductions and credits they can apply to their tax situation, that they might not be aware of currently. You could charge a small fee for this service, all because you used the power of the Internet to learn how the tax system works, and how credits and deductions can lower overall tax liability.
The ReviewsRoo category page on taxes has some great information right here!
Also, here’s a few additional sites to get you on your way!
Tax Brackets And How They Work – On your tax education mission, you can learn a lot here!
H&R Block – This is the most well known tax preparation service out there. Don’t take chances, trust H&R Block!