Quote:
Originally Posted by BlackCrayon
beside the doctor, none of the professions used in the example can make deductions like a business can. you can't compare running a business where you can deduct a % of your office, utilities, etc to someone who makes a salary. they get none of that.
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Bullshit. You have mortgage interest deduction. Deductions for your kids. Give stuff to goodwill and you can deduct that. If you refinance your home you can take a deduction on any points you pay to refinance. Health insurance premiums can be deducted. Teachers can take up to a $250 deduction for materials they purchased during the year. Go back to school and you can get a $4,000 deduction. You can get deductions for adding energy saving windows and doors to your house.
Fees you pay your accountant to prepare your taxes are deductible. The fees you pay to a broker for your retirement plan are deductible. The mileage you put on your car driving to see the financial adviser handling your 401 or IRA fund is deductible.
People do it all the time. NOBODY pays the exact rate that is listed on those charts. The cheapest tax software on the market will instantly lower that for you by showing you deductions you can take.
There's a reason people who are employees get "tax refund" checks at the end of the year. (something I, of course have never seen because I've always worked for myself).