Tuesday, July 17, 2012

With Great Salary Comes with Great Tax

Last week, a memorandum of good and bad news landed on my office desk. The good news was: I have received my annual increase of more than .25% of my basic salary (yey!) and this good news, however, was associated with bad news: a higher income tax (ugh!). Tax has been a subject of conversation in the office all day long and we always raise our eyebrows up to the ceiling whenever we talk about tax, we all agreed.... it’s a burden we all shared.

It is from tax where the government get the all the funds for their projects, that's what I've been told. Cutting 10% from my hard earned money is really painful for the projects I never seen nor felt .Double that pain in filling our income tax return - as an individual, it’s hard to compute tax manually and efficiently as it consume time for us to complete it. 

Understanding all about tax is easy today compared to my parent's days. One of the beauty of the digital world is that there are different types of tax advice online which we could seek help from. From understanding to easy ways to pay less taxes are available in just a click. We could also file irs tax extension at the comfort of our homes, avoiding deadlines and inconvenience.

These are just simple and basic ways I learned about taxes today. As I move forward in paying my government dues, I'm hoping to share more tax relief and helpful tips to y'all.

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