I would love to pay a lot of taxes, A LOT! Crazy you say, well the reality is unless I am going to dodge the law and take my chances I am going to have to pay taxes. I know so many people worried about how much tax they are going to have to pay. Well my dad taught me something that I will always remember. I would rather pay a lot of tax than a little because it means I am making a lot of money. I never think of taxes, I think of ways to make a ton of money. Through research I found a great tax accountant and he thinks of how to legally keep my tax burden at a minimum. We each do what we are good at and my bank account thanks me for it.
There are all these laws of making money. One is you get what you focus on. That is why I focus on making lots and lots of money and I let someone else worry about how to keep the government out of my money. It keeps me open to possibilities, I have seen it so many times people saying I don’t want to work that shift because it will bump me into the next tax bracket. So I go and do the shift, meet someone and we do a huge deal together in land. With that kind of money being made the tax bracket just does not matter much anymore. You will also find out when you make a lot of money, that the rich really pay a much lower tax rate than you think. While it publicly is 40-50%, in reality it can be much, much, much lower. It does pay to find a good tax person, they are normally strange people that like reading government documents that don’t make sense to the average guy.
When you have made a bunch of money for a while you also will start to learn the bigger pictures of paying less tax. You will start to find investments or business arrangements that offer better protection from taxation and of course you will take advantage of them. A warning, unless you are the worlds largest cola company do not purposefully avoid paying tax. Having the government on your case for 5-10 years is not a fun place to be. Worry about making more money and let the system take its share. Is it fair, no? Is it right, no. Is it easier to make more money than to change the system, YES!
Like all games there are rules no one likes, the rules of living in one of the greatest countries in the world is you pay tax. We could move to some third world banana republic where we have to hire the army to surround us if we wanted to go shopping. But we choose to live here and there is a cost and taxes sure are one of them.
The bottom line is wrap your mind around what is the best use of your time. Make a lot of money and give the tax department their share or only make a modest amount of money so you don’t have to pay too much tax. I promise you when you start to make a lot of money there are tax smart people out there that will dramatically lower your tax bill, legally. So remember your goal is to be wealthy and debt free, it isn’t to be so poor that you aren’t required to pay taxes!
