Today is the deadline for filing your income taxes or filing for an extension.
-8 in 10 tax payers will get a refund, mainly those making $50,000 a year or less
-Average US tax return = $2, 800 dollars
-Financial expert s define a REFUND: an interest free loan to the government http://money.cnn.com/2015/01/13/pf/taxes/taxpayer-refunds/
“Tax Tip” from financial expert Dave Ramsey
*Getting a big refund on my income taxes is a good way to save money. (Myth)
Truth: If you get a large tax refund, you’re allowing the IRS to take too much money out of your paycheck. You’re loaning the government your money—interest free. That’s money you could use to pay off debt and/or build wealth each month. https://www.daveramsey.com/elp/tax-questions/
Since it’s ‘Tax day’ – some ‘Tax BREAKS’ from other countries?
-In Germany, one can deduct bribes to officials? All one has to do is disclose their name and the name of the official that they bribed.
-The United Kingdom gives tax breaks to video game companies that create “culturally British” games.
-In the Netherlands, those who study and practice witchcraft can claim a government tax break. A judge upheld the tax break in court back in 2005.
-In Italy, almost a third of all men over 30 still live at home. To encourage them to move out, the government issued a 1,000 euro tax break to those who rent their homes. However, the job market is so poor that the men can’t make it on their own once they moved out. http://www.efile.com/legitimate-tax-breaks-and-unusual-extraordinary-qualified-tax-deductions-and-tax-exemptions/