Most people don’t realize this, but taxes are their single largest expense. They will spend more on taxes than on anything else in their lifetimes, if they’re law-abiding that is. Plus, we have so little control over them, which makes it a double-whammy.
Sometimes, the largest expenses we ever have turn out to be the ones we pay incrementally, a little at a time, over a long lifespan of many years. When those expenses come out of pocket bit-by-bit, they may not seem so bad until you stop and think about the long term amounts.When they’re added up over a lifetime, the results can be shocking. Your lifetime tax bill is a perfect example of that.
Even if you make just an average income over your lifetime, your federal tax bill could be in the hundreds of thousands of dollars. Every budgeter wants to maximize their money, make it work for them, and put it to good use. Everyone likes to be in control, and with taxes, we’re not in control in the least.
Your biggest expense is controlled by a bunch of other people in the government. So, what does a dollar-maximizing, budgeting, and enlightened person do? They educate themselves on the tax code, and they minimize whatever they can. You can’t ever control the “unknowns”, but you can certainly control the “knowns”.
When you switch tax advisors, for instance, you might save tens of thousands of dollars. Contact Investment Management Solutions Inc. today for a financial tax plan that will optimize those hard earned dollars and save more monthly income for the pleasures in life!