Why Do Tax Loopholes Exist?


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10-11-13

The latest round of loopholes are largely centered around Obamacare and ways you can legally pay less for insurance than you might think. I’ll be covering that in Saturday’s webinar. If you haven’t signed up yet, there are still a few seats. You can sign up at http://www.DianesSeminars.com

I’ve had a little pushback on the idea that I’m telling people how to pay less for the insurance. Actually, only one person has been loudly vocal, but the fact that he has the points I was expecting to defend against, means I need to make a public statement. (Or at least I think I do)

It’s the same argument that I used to get from people who didn’t think I should explain the loopholes for paying less tax.

First of all, let’s be clear. These are LEGAL tax secrets. These are the things you can legally do to reduce your taxes or reduce your insurance premiums.

In most cases, they have been specifically written into the law to promote some kind of public policy. There are plenty of tax breaks for homeowners, for example. That’s because the US has a very pro-homeownership stance. There are plenty of breaks for big business. Now here’s the interesting part. Big business = small business = home business, when it comes to tax breaks.

Why are there so many breaks for business owners? It’s because business is the foundation of a capitalist economy. Businesses employ people. Businesses invest in capital. Businesses build an economy.

Want more? Start a business. Want to pay less in taxes? Start a business.

I don’t know why we have the loopholes we do in Obamacare, but they are there. And they are legal and they’re here to stay at least for a few years.

Do you want to pay less tax? Pay less premiums? Follow the law, get a good advisor to help you and just do what you’re supposed to do.



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