Tax Education Part 2: How to Avoid Your Taxes

Taxes can be downright bewildering and scary – but that’s exactly what you’re made to feel. In this episode, we continue to embark on an enlightening journey through the world of taxes. This time, we learn about how to avoid them.

Yes, avoid. It sounds wrong for most people, but tax avoidance is legal – entirely different from tax evasion. Essentially, you can avoid taxes if you know how to take advantage of the tax code. And for that, there are many steps you can take.

For this of course, we also first need to identify the primary question: Do you really have a tax problem, or do you have an income problem?

Join us as we demystify the complex through tax education, in this latest episode of Fiscally Savage.

 

Show Highlights

• [03:27] Tax avoidance versus tax evasion

• Avoiding taxes if it's a tax problem

• [07:13] Standard deduction

• [09:32] Retirement accounts

• [11:21] Savings accounts

• Avoiding taxes if it’s an income problem

• [16:31] Tax credits

• [18:44] Tax strategies

• [20:03] Starting a business

 

Links and Resources

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