Why Employees Should Care About the Tax Code

Are you living paycheck-to-paycheck or struggling to meet your financial goals? Taxes are one of, if not your biggest expense. It is a myth that employees who don’t have millions in assets shouldn’t concern themselves with the tax code because they have little or no opportunities to manage their taxes. It is true that some of the best tax opportunities are reserved for the wealthy (e.g. accredited investors), but employees have opportunities as well. In this episode, our goal is to convince you that you should care about the tax code. We discuss strategies employees can take advantage of to reduce their taxes. We also warn of some pitfalls you can run into if you’re not planning your taxes effectively. Some topics in this episode include: proper withholding, tax-favored accounts (401k, HSA, IRA), health insurance (HSA, premium tax credit, Medicaid), opportunities and pitfalls due to income fluctuations, and retirement planning. Visit us at biggerinsights.com to request a consultation or read our blog. Please consider making a non-deductible contribution to help us break through Big Tech suppression and keep this podcast going. OpenAlias: contribute.biggerinsights.com. Monero (XMR), Bitcoin (BTC), and Litecoin (LTC) addresses at biggerinsights.com/support-us. Disclaimer: We are not CPAs, tax attorneys, or other tax professionals and nothing in this episode should be construed as tax, financial, or other advice.