How’s Your Tax System Working?
President Barack Obama was quoted as saying, “Ultimately it’s important for 
the administration to send a message that there aren’t two sets of rules. You know, one for prominent people and one for ordinary people who have to pay their taxes.”
Sounds logical, right?
And fair?
Just so you know: taxes are neither logical nor fair. This will become painfully obvious the more you deal with the Internal Revenue Service (IRS) and the Tax Code.
But here’s the scoop: There ARE two sets of rules, or systems….
But not one set for the prominent (and let’s face it – he really means the “rich”) and another for the “ordinary”. . .
In reality, the two tax systems are for the educated and the uneducated.
One of America’s most famous jurists, Justice Learned Hand made this 
statement over forty years ago:
In America there are two tax systems, one for the informed and one for the uninformed. Both systems are legal.
Let me explain:
The Uneducated (Uninformed) System
The uneducated system works like this: Income – Taxes = Spend What’s Left
And how’s this working for ya? If you are like most wage earners the federal, state and local governments are collecting about half your paycheck right off the top!
Surprised? Take a look at your next paycheck – for every $1000 that you earn you can bet that the government takes about $500.
Welcome to the world of the wage-slave!!
Care to guess what the big boys pay? Let’s just say that Warren Buffet was heard to complain a few years ago that he paid a 17.7% tax rate on his $46 million of taxable income.
Not being educated is very expensive!
The Educated (Informed) system
At the very same time there is another tax system operating right along side the first one that has the endorsement of both Congress and the IRS. It works like this: Income – Spend = Tax What’s Left
In the educated system you spend your money on business expenses and deductions. At the end, you pay taxes on what’s left over. Having your own business and being in the educated tax system can reduce your taxes by 40-60%. This can save you tens of thousands of dollars.
Big difference!
Welcome to the world of the business owner!!
Now the question is: Which system do you want to be in?
Wage-slave or Business Owner?
Uneducated or Educated?
The choice to move from uneducated to educated is YOURS.
The IRS will not do it for you.
It’s not in their best interest to fill you in on all the deductions available to you. There are 300-plus business deductions available to you, but if you happen to miss a few here and there, the good old IRS is NOT going to send you a notice to let you know.
Your tax preparer (most likely) will not do it for you.
How many of you have received a call saying “Did you know that you can legally minimize your taxes?” In my experience, most tax preparers specialize in tax returns, not tax planning. That’s why you need someone who specializes in tax strategy. By paying special attention to the tax code and making a few simple changes, you can thousands of dollars.
It’s up to you.
Come on, join us!
Get educated, build your business, and start living your tax deductible lifestyle.
There is no better time than NOW!
Thanks for reading BillOnBusiness.net! Your comments and questions are welcomed below.
“In reality, the two tax systems are for the educated and the uneducated.” Brilliant. I choose to be educated!
Kudos to you Shae, not only for choosing to be educated, but also choosing to educate with your Financial Freedom GPS. Good stuff!