Paying taxes is an obligation of every citizen who meets the criteria of the taxpayer in any country. As a good citizen, you have to pay taxes in a timely and appropriate amount. Many people often complain when they have to pay taxes because the benefits are not felt directly. The amount to be paid is often ‘burdensome’. So many people are breaking the time in paying taxes and causing a lot of trouble. The problem is usually legal and requires a professional lawyer. If you are looking for a professional lawyer, you can go to www.irsproblemsolve.com. The website provides reliable legal attorney services.
When the tax is felt to burden a person, there is a way to reduce the burden. Here are some legal ways to reduce your taxes:
– Investing in Investment Products with Low Taxes
Investing is the only way to achieve financial freedom. By investing you can achieve the desired financial goals. In addition to providing cash benefits, investment can also provide tax benefits for investors. Some investment products are only subject to a very small final tax. For example, stocks and mutual funds.
– Distribute Taxes to Others
Taxes for some assets such as motor vehicles are usually progressive. For example, if you have 3 private cars then the motor vehicle tax for the third car will be higher than the tax on your first car. Therefore you can distribute the tax burden to the family. For example, use a spouse or child’s name for the new vehicle you want to buy. That way the tax will be distributed so you can pay the tax with the lowest rate.
– Increase Pension Fund Contributions
Every employee working in a company usually has a compulsory saving each month to prepare for a pension fund. Contributions to pension funds are among the tax deductions. The number of funds you pay each month for the contribution of the pension fund will be used as a deduction for the amount of income taxed. If the funds are raised, the less your income is taxed.