Sometimes it pays to ask questions
Over several years, in discussions with tax preparers, I've asked a number of them whether, when their clients come to pick up their completed tax returns, quite a few ask for some suggestions as to how they might rejig their financial situation slightly to reduce their income tax bill.
Almost all of them reply that scarcely anyone ever asks such a question. Quite a number say that they've never heard it!
I find that answer incredible!!
If someone who knows the income tax system well has just finished preparing my tax return, he knows a substantial amount about my financial situation.
It seems to me that it would be wise to pick his/her brains with regard to some ways that I might manage my affairs to result in cutting my income tax bill substantially.
Especially since, if I'd waited until I'd written the cheque, or had my wallet safely lodged back in my pocket, the information would probably be gleaned free of charge!
For how many years have you had a tax preparer complete your income tax return?
Have you ever asked that question?
And if your accountant does it, have you consulted her/him about some ways that you could take a slice off of your tax bill?
I hope that you haven't had your return completed yet, this year - for that gives you the opportunity to ask it, this year.
Make sure that you do!
Asking questions sometimes elicits valuable information - and sometimes one can receive it at no cost.
Imagine your rejoicing if you found a $20.00 (or a $50.00) bill lying on the sidewalk.
This could be worth far more than that.
And it could work again in coming years.
(That info'll cost you $15.00. Jus drop it into the Bank of Good Cheer, account No. 12345).
Enjoy your tax season, everyone - just think - next year you might be able to arrange your system in a way to pay 15% less (on a slight wage increase).