Why Tax Knowledge Is Power
You’ve probably heard the phrase “knowledge is power” many times in your life. It’s one of the few near-clichés that’s actually packed with truth. The more you know, the more power you have – either literally or figuratively. The phrase fits especially well when it comes to taxes. Many people find the very concept of taxation, or at least anything beyond the most basic elements of it, to be out of their realm of understanding. And it IS complicated. But sometimes all it takes is a little specialized knowledge in a few key areas for you to put yourself, potentially, in a much better financial situation, both now and in the future. So what is this tax knowledge? What do you need to know that could maybe save you from greatly overpaying your tax bill?