Posted by Hay maker2 on May 02, 2017 at 16:06:06 from (67.253.220.130):
In Reply to: I noticed......... posted by Donald Lehman on May 02, 2017 at 06:29:46:
Quoting Removed, click Modern View to see
If you spent all your money trying to avoid paying taxes and saving for a rainy day then your going to be one of them people who you mentioned above; My biggest problem is a lot of it is used to support people who don't work or pay tax.
I don't like the way the taxes are used either and this is not about how the taxes are used, its about not getting caught up in the whole tax write off thing.
Yes, there is a time and place to spend money and buy new equipment, but to many times they are more concerned about saving tax money and not saving for lean times or a retirement.
I hear all the excuses from own family and friends. Regardless if you are a farmer, a factory worker, or own the gas station down the road, if they all make $100,000.00 then they all fall into the same tax bracket, the only difference is what deductions that they can create.
I feel a lot of people and self-employed people need a better understanding of the tax and financial system. I am for sure that I have ruffled some feathers with the whole tax advantage crap....
Your paying taxes on a 401(k) as the money that was invested into it was tax free. Over time the 401(k) grew and made you money, even if it is just numbers on a paper. The 401(k) is designed for income after retirement. So you can afford to live your life and not be one of them people that live off the tax dollars.
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