Pay Less In Taxes in 2022
March 22, 2022
March 22, 2022
It’s tax season!
You and millions of other people are gathering documents smattered with seemingly random number/letter/hyphen combinations.
W-2 K-1 1099 1099-R 1099-DIV 1098 1098-T 1099-INT 1095-A W-4
It’s time to diligently document every dime you brought in and try to find every expense you can deduct.
If you still have to pay taxes after all of that sleuthing – then congratulations! You must have made money.
While it’s nice to know you’ve been a profitable and valuable contributor to the society that we live in by paying your fair share of taxes, I’m sure you’re wondering if you’ve paid too much. We all do. Whether it’s because we are wary of the wasteful tendencies of our federal government or because of the opportunity cost we feel because we’re sure we could do a better job helping ourselves with the thousands of dollars we’ve been taxed; every single one of us wants to be certain we’ve paid what we owe and not a dollar more.
It’s our duty as responsible providers for our families to pay as little as legally obligated to our federal government. Our money is better spent on gifts for children and grandchildren, donations to our churches for buildings or other ministries, directly feeding the hungry, and caring for widows and orphans in our communities. If you agree with that then heed these 5 tips on how to pay less taxes in 2022.
This is just the tip of the iceberg as far as long-term tax strategy goes and the options get even more robust if you’re self-employed, have stock options, have other assets like farm ground that you may sell, and more. Remember to find someone who can help with taxes for more than just the current year for 2022 when you’re getting your 2021 taxes sorted out.
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