Michel Valbrun shares 3 reasons why you must declare income taxes
Michel Valbrun helps entrepreneurs save millions in taxes through ethical and legal methods.
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Taxes are your responsibility as a citizen of a country. Utilities are a godsend, but they need funding to run and our taxes help. Filing taxes and filling out forms is usually an issue that people tend to shy away from, but it has a benefit that many want. It will also earn you returns so that you get back a relevant amount from the government and thus save your money that you would have wasted otherwise.
Michel Valbrun facilitates this tedious process for individuals and companies thanks to his expertise in the field and the vast knowledge he has acquired through his university experience and his self-learning journey. He is a well-known CPA, tax strategist, author and speaker.
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He shares the 3 reasons why you should file your taxes before your due date:
1. makes you a responsible citizen
It is not an aspect related to money, but certainly a part related to self-esteem. The country’s government is forcing people to file their taxes before due dates, otherwise they want to pay additional penalties and interest.
Businesses and individuals pay a certain amount based on their income and this allows you to be recognized as a responsible citizen and as it is a voluntary act the government will not come and watch you unless it feel that there is an influx of income but no tax declaration on your part. In this case, you will be audited.
Who doesn’t like having more money? Nobody! Well, taxes are an unavoidable expense and you will have to devote part of your income to it. However, by filing on time and following all formalities, you will be eligible to obtain the corresponding refunds.
If you file these refund requests in advance, you will also have the option of getting them as soon as possible. âI always ask people, ‘Take a look at your life and really think what is your biggest expense? They say it’s usually a car, mortgage, kids, etc. But, if you break it down, taxes are your biggest expense. When you earn money you pay income tax and it consumes almost 50% of your income. – Michel Valbrun
3. Avoid penalties
You already pay a lot of money in taxes, would you like to pay more? The answer is no. Delay in filing taxes leads to such situations, if you fail to do so within the allotted time, you may have to pay late penalty and interest charged by the government.
You may be charged for both deposit and late payment, which is undesirable. Michel Valbrun ensures that individuals and business owners do not encounter such difficulties and has saved over $ 8 million in 2019. For more information, visit his website.