You may not realize this but taxes are likely your single biggest expense when you add them all up – Federal Income Tax, State Income Tax, Payroll Tax, Corporate Tax, Sales Tax, Property Tax, and the list goes on. But what’s even worse than the tax itself is the approach people take when it comes to their taxes. They view taxes as nuisance, confusing and an after-thought – relinquishing their tax management to a once a year exercise in gathering information and sending it to their tax preparer to file a tax return.
For those of you that want to build wealth, you must change your mindset around Taxes. Without the proper mindset, you won’t be able to take the necessary steps to grow your intelligence around taxes and implement viable tax strategies customized for you on an ongoing basis.
To build wealth and financial freedom, learning how to legally control this expense is essential to keeping more of what you make. This requires you moving from viewing taxes as a once a year burden to an ongoing wealth planning opportunity.