Philosophy on money and taxes

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Money & tax philosophy

How to make money? You must first serve others before you can earn money for yourself.

24. April 2024 by Click insider / Get rich

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What is money?

Money can serve as a medium of exchange and a value storage means.

In the past, money was something completely different than it is today. Previously represented a value of money, often gold. So, you had NOK 1000, the corresponding value of a share of a country's holdings of gold reserves.

Today 's money just a kind of loan notes. The paper, and air. The money represents hard to find, nothing other than an agreed value. It is not physical values ​​that maintain the value of money anymore, but it is our perception of the value of money.

What is good money?

  • Money facilitates exchange processes. Instead of replacing one cow on a piece of land, as one might do in the past, we use money now.
  • Money makes it easier to compare values ​​. If an apple costs 5 cents, and a bouquet of flowers cost 50, one can say that flowers bouquet costs as much as 10 apples. Money gives us a frame of reference to compare different products and services.
  • Money can be used to gain a better standard of living. Most people would choose to have a lot of money!

How to make money?

  • Serve others first: To make money you need to serve others. Whether you are an employee, self-employed, business owner, and currency speculator, so you need to offer something of value to others.
  • Exception: There are a few exceptions to the rule that you must serve others before you can earn money for yourself. Such exceptions are pensioners who receive more back from the government than what they have contributed to the taxes to the community. Someone really needs for social security benefits, and deserve it, while too many piggybacking his undeserved benefits. In a welfare state the tax paying clean that serve those who are unable to earn their own money.
  • Learn more about how to make money.

Money and taxes

Tax in many countries is sky high compared to tax havens in other parts of the world.

Reducing tax is overrated. What many people either Let's try to focus on is how to create additional revenue. Look for eksemel how fast and easy it can be to make money online, even without having special skills.

Get lower tax

Are you tired of taxes? If you are not happy with your tax burden, you have several options:

  1. Evade tax. Even if your morality permits this, tax evasion is difficult in most countries, and you get a fine and jailtime when the tax authorities knows on your door. You can be mimicked for tax evasion 10 years back in time, resulting in an interest expense that can totally dominate your finances.
  2. Moving to tax havens. Here you have a lower rate of surtax, and you get lower taxes on ordinary income, separate income deduction, allowance, and sometimes zero rate of payroll tax.
  3. Move to another municipality. Perhaps the tax benefits in another municipality is better, and will be more beneficial to you than the municipality you live in now? Municipal tax varies, some municipalities are without property, some places are welfare that could have a major economic value to you. If it is necessary to move out of the county for tax purposes, you can find out where it pays to stay by visiting the municipal website.
  4. Be politically active and affecting taxation in local and / or state. If you do not want a political career, you can at least use the right to vote to vote for parties that are fighting for lower taxes.

Tax loopholes

Loopholes may be legal, illegal or in a gray area (ie not clearly defined whether it is legal or illegal).

Government are constantly on new tax laws to close loopholes and just kept popping up new loopholes that make it possible to make tax-free money. Dividend Tax was unpopular when it was introduced, but the conscious shareholder is still a simple matter to circumvent these laws by taking out capital tax free.

There are thousands of loopholes in the tax laws, but many are probably of little relevance to most people. To find out what loopholes you can use it only requires two things: intelligence and understanding of tax laws. Such information is not free, and not something that the public knows much about.

It pays to look for legal loopholes, and then shut up about it.

Make government aware of a loophole in the tax laws, the State will first assess the extent and how much they lose on this loophole, and they will eventually do what they can to prevent you from exploiting tax laws.

Deduction

In addition to loopholes should also find out what deductions you are entitled to. Most deductions are easy to figure out, and many can deduct substantial amounts so that they save several tens of thousands a year.

For some it may be enough to read through to the deductions you are entitled to. The Tax Administration 's website or telephone, or call the tax office to find out more.

Rent a tax expert?

To get the maximum tax credit may be necessary to purchase consulting with a tax expert. It costs some money, while keeping in mind that tax is what you spend the most money on in life. Maybe you should spend some money to find out how you can pay less in taxes?

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