Why should you get smart about taxes? Here are four great reasons

July 22, 2014 by Karen Reed, EA
boy with glasses thinking

You have a tax program or a tax professional to figure your tax stuff out for you, so you don’t need to understand taxes, right? Check out and go on a mini-vaca? Well, not so fast… A tax program is only as good as the information you put into it (think: garbage in, garbage out). And, while your tax professional may be the best around, it’s a fact that nobody cares about your money more than you do.

Here’s more to consider:

1. Taxes Might Be Your Biggest Expenditure

If you’re like most Americans, you spend more money on taxes than you do on anything else, so you should understand it, shouldn’t you? According to The Tax Foundation, Americans will spend more on taxes in 2014 than they will on food, clothing and housing combined!

2. Many Major Life Decisions Have Tax Consequences

Most major personal decisions have tax consequences. Should you get married or stay single? Should you get divorced or stay married? Should you have kids or stick with the pet poodle? How much can you afford to pay for college? Should you buy a house? The list goes on and on…

3. Knowing About the Latest Tax Breaks Could Save Money

When making a major purchase for business or for your home, knowing about the tax breaks that may be available can help you plan. You may even be able to afford more (or less) than you might have thought... (You think you can’t afford those thirty thousand dollar solar panels, but, wow! What if you were going to get 10K of it back in a tax credit?)

4. Taxes Can Make You Smarter

Taxes are often complicated and difficult to understand, and studies show that those who acquire new skills and abilities can get smarter by doing so!

So where should you start? Right here, with the TaxAudit.com Blog, and feel free to send your questions to us. It’s the middle of the summer. Who’s thinking about taxes? Congratulations, you are!

This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.