American Taxpayers Are All for Real Tax Reform
Taxes, taxes, taxes. One thing is for sure you can’t run and hide from them. While most Americans pay their taxes, some more begrudgingly than others, most taxpayers wish they could pay less. What’s more, most taxpayers would also love to see some real change in the tax system instead of the constant back-and-forth rhetoric that continuously takes place between political candidates and lawmakers.
In fact, according to a recent survey from WalletHub the majority of Americans really just want to see some true reform when it comes to the nation’s tax code. According to the survey more than 75 percent of those who participated felt that the current tax code was either complex or extremely complex. By way of comparison, only 5.5 percent said that the tax code is simple or very simple.
The findings also suggested that there was a correlation between the age of the respondents and how complex they feel the tax code is. Specifically, the older the respondent the more complex he or she feels the tax code is. So what makes the tax code seem so complex? According to respondents one of the chief culprits is the amount of deductions available in the tax code. The majority of the participants preferred a tax code with fewer deductions.
There are many aspects to taxes and no doubt for the average taxpayer a much simpler code would be preferable. In any case, when it comes to high net worth taxpayers the tax code can be even more complicated. That’s why it’s a good idea to let GROCO take care of your taxes for you. Click here to contact us.
Don’t Underestimate Listening as a Leadership Tool
Listening as a Leadership Tool Are you a good listener? If you’re a leader and you haven’t mastered the skill of listening, then chances are your leadership skills need some improvement. One of the key components to becoming a great leader is being able to build trust. If people don’t trust you they won’t follow…
Use These Tips to Save for Retirement
Use These Tips to Save for Retirement Everyone has retirement dreams. But dreams are not reality. The reality is if you want your retirement dreams to come true you have to be intentional about them. That means you have to plan for retirement. It means you need to start saving, now. So what’s the best…
Which States Take the Most From the Wealthy?
Which States Take the Most From the Wealthy? No one likes paying taxes. That being said, most people recognize the need for taxes. But they still do everything they can to keep their tax bill as low as possible. Minimizing taxes is especially important for the wealthy because they pay the majority of the country’s…
Are Changes Coming to Capital Gains Taxes?
Are Changes Coming to Capital Gains Taxes? If you’re still trying to catch up with all the changes brought about by the Tax Cut and Jobs Act, then you might want to have a seat. That’s because republican lawmakers aren’t done yet. At least, they don’t want to be. Lawmakers in Washington have been busy…