Welcome to Business Tax
Income Tax Refund
The other day, a rather peculiar incident occurred. I got an income tax refund from the IRS. Normally, I am only used to paying the IRS through my nose. Each year I struggle to make ends meet by working odd jobs. Rarely, when I find a job that employs me for more than a couple of months, I find that any savings I ever make are often ploughed back into the system by the prospect of income tax. Like the adage goes, no one can avoid death and taxes. Imagine my joy nay ecstasy when I actually managed to get an income tax refund. I was thrilled to bits to say the least.
My mother has always been one to get income tax refunds. This is essentially because she is a very meticulous sort of person. She has been working for over thirty years and in all this time, she has changed employers once. And that too because the previous employer went bust! Anyways, to get back to the point, she was always the one to get income tax refunds in the house. Each tax season while dad would be ranting and raving over the amount of tax he had to pay, she would be really calm. For she had her finances so well managed that she not only had to pay any tax, but even if she did, she was sure that she would get an income tax refund for it.
Contrary to popular belief, there are legal ways to avoid paying income tax. Most of these entail making savings or investments for a certain amount, in some government linked bonds or investment avenues in order to minimize the tax burden. The idea being that if you are willing to let's say buy infrastructure bonds which will put money in the pockets of the government for a period of five years, then there is no need to charge you for it. The explanation has always been be a partner and enjoy the benefits or pay up and forget all about it!
Anyways, investing in such instruments is one sure way of avoiding income tax. Sure, you will still have to file your own papers and will even have to register etc. But the activity loses some of the threat that it normally carries for most people. Who knows? The process might even make the idea of getting an income tax refund much more familiar. I know that I got my first income tax refund this time. And I'm surely going to try and make it an annual even from now on.
Tax Refund Business News
Voyager Learning Company Provides First Half 2008 Business Update - FOXBusiness
Voyager Learning Company Provides First Half 2008 Business Update FOXBusiness - The Company has not filed its 2007 federal taxes yet, and therefore, has not received an anticipated tax refund of $45 million to $50 million. ... |
Dion's Green Shift tour needs more polish - National Post
 National Post | Dion's Green Shift tour needs more polish National Post, Canada - That's always been the problem with the $15-billion scheme to put a price on carbon pollution and refund the revenue gains through federal tax breaks. ... |
Friedman, Billings, Ramsey Group, Inc. Q2 2008 Earnings Call ... - Seeking Alpha
Friedman, Billings, Ramsey Group, Inc. Q2 2008 Earnings Call ... Seeking Alpha, NY - We expect to receive a $28 million IRS tax refund in the third quarter along with additional funds from pre-payments, liquidations and capital invested in ... FBR Group Reports Second Quarter Earnings |
Unisys Corporation Q2 2008 Earnings Call Transcript - Seeking Alpha
Unisys Corporation Q2 2008 Earnings Call Transcript Seeking Alpha, NY - In fact, if you take out a one time tax refund a year ago our cash from operations increased by nearly $90 million in the quarter. In our services business ... |
The Ryland Group, Inc. Q2 2008 Earnings Conference Call Transcript - Seeking Alpha
The Ryland Group, Inc. Q2 2008 Earnings Conference Call Transcript Seeking Alpha, NY - In addition to the cash we are generating, we expected to receive a substantial tax refund in the first quarter of 2009 further enhancing our liquidity ... |