Death & Taxes
In 1723, Christopher Bullock published a book called, “The Cobbler of Preston” wrote, “Tis impossible to be sure of any thing but Death and Taxes.” These two have stood the test of time.
Death will befall every man and woman to ever live on this earth. As our clock is ticking, have you wondered your purpose to live? There is so much more to life than the frivolous hype that media portrays, money won’t bring you joy, relationships only last for so long.
There is a spiritual hunger for each and every human being on this earth that cannot be satisfied by anything other than God himself. I personally have peace and assurance in my faith in Jesus Christ to the point that death is not something that intimidates me. He is with me so ultimately, I have little to fear.
Hello Uncle Sam
For those of us who live in the United States, it’s tax season, meaning we have to rummage through our tax documents and receipts to prepare for filing; deadline is April 17th for those who have yet to do so.
I paid right under $1,400 upon filing my taxes as I was partly working at a non-profit agency this past year, gaining about $10,000 income without taxation. I did lower my deductions as I also had 2 additional income streams that were taxed. Currently, I am filing my taxes through Turbotax (this link provides a discount), which has been convenient. Eventually, I will be utilizing a CPA as my income grows.
If you haven’t already, you can file for free through the IRS website, Turbotax (if you make or colleges tend to have free tax preparation help as there are students that need experience who are willing to provide the service pro-bono. If you own a business or real estate, your ability to deduct from your taxes will be significantly more than if you were not an entrepreneur.
If you haven’t already maxed out your Roth IRA for 2017, you can still contribute until April 17th (Motley fool got this information incorrect for some odd reason). Whether it be your Traditional IRA (pre-taxed income investment or Roth IRA (post-tax investment), it is worth considering this as an option.
Thoughts on Death & Taxes?
What are your thoughts on having a strong core belief in life? How have you been stewarding your finances in order that you aren’t paying so much in taxes?