Why do tax laws allow a taxpayer to deduct money contributed to an IRA from gross income and accumulate a retirement account on a tax deferred basis? When was the last time you washed a rental car or change its oil? People don't wash rental cars; they wash and take care of things they owned.
The secret of American wealth lies within the freedom to own assets with deeds, titles, and articles of incorporation.
The government understands this premise; so similarly, they encourage you to take financial responsibility for your own retirement so you won't be a drain on the public funds.
The government also encourages you to postpone taxes to a future date so your funds will grow to a larger amount and likely be taxed at a higher rate Why do tax laws allow taxpayer to deduct mortgage interest expense from their gross income? It is because home buyers stimulate the economy, which creates more tax revenue than the revenue they are giving up.
The government would rather have its citizens owning their own home than living in subsidized housing or renting.
People take care of assets when they have personal ownership of them.
Why do tax laws allow a taxpayer to deduct money contributed to charitable causes? Because those civic dollars benefit society.
Therefore, government welfare programs will have less demand on them.
Why do tax laws allow exemption on a tax return for each dependent in the household? It's better for parents to care for the needs of their children than to have government collecting additional tax and allocating it back for human service.
It stands to reason, then, that then more choice and control we exercise over our civic assets, the less government will need to tax us to provide services we can provide we can provide for ourselves.
Why if a 30 year old couple could redirect $500 a month of otherwise payable income taxes to their retirement account? If they accumulated $500 per month for thirty years (to age 65) in a not-taxable environment at 7.
5 percent interest compounded annually, it would grow $1,021,727 they could withdraw $6,385 per month in interest thereafter ($1,021,727 x 7.
5% = $76,630 divide by 12 months) and never deplete their principal.
Remember that sweet, juicy orange encased in the bitter peel.
Here's is one of those moments when we will need to "get through the peel" to arrive at a delightful principle, you need to educate yourselves on some basic tax laws and strategies that are necessary ingredients for making dramatic difference in optimizing all of our assets.
The secret of American wealth lies within the freedom to own assets with deeds, titles, and articles of incorporation.
The government understands this premise; so similarly, they encourage you to take financial responsibility for your own retirement so you won't be a drain on the public funds.
The government also encourages you to postpone taxes to a future date so your funds will grow to a larger amount and likely be taxed at a higher rate Why do tax laws allow taxpayer to deduct mortgage interest expense from their gross income? It is because home buyers stimulate the economy, which creates more tax revenue than the revenue they are giving up.
The government would rather have its citizens owning their own home than living in subsidized housing or renting.
People take care of assets when they have personal ownership of them.
Why do tax laws allow a taxpayer to deduct money contributed to charitable causes? Because those civic dollars benefit society.
Therefore, government welfare programs will have less demand on them.
Why do tax laws allow exemption on a tax return for each dependent in the household? It's better for parents to care for the needs of their children than to have government collecting additional tax and allocating it back for human service.
It stands to reason, then, that then more choice and control we exercise over our civic assets, the less government will need to tax us to provide services we can provide we can provide for ourselves.
Why if a 30 year old couple could redirect $500 a month of otherwise payable income taxes to their retirement account? If they accumulated $500 per month for thirty years (to age 65) in a not-taxable environment at 7.
5 percent interest compounded annually, it would grow $1,021,727 they could withdraw $6,385 per month in interest thereafter ($1,021,727 x 7.
5% = $76,630 divide by 12 months) and never deplete their principal.
Remember that sweet, juicy orange encased in the bitter peel.
Here's is one of those moments when we will need to "get through the peel" to arrive at a delightful principle, you need to educate yourselves on some basic tax laws and strategies that are necessary ingredients for making dramatic difference in optimizing all of our assets.