Your Life and Your Taxes
Friday, April 18th, 2008
Americans overpay the government an average of $1 billion every year, some 11 million people fail to take the Earned income Tax Credit and various education credits. Hire a tax professional (a CPA or and Enrolled Agent) to make sure you are maximizing the deductions available to you.
Do your duty by paying taxes, but be aware of not overpaying. Here are four ideas for making your contributions count in a good way toward the earth:
• Give to charity, engaging in voluntary (rather than involuntary, government-directed) philanthropy.
• Contribute more to your 401 (k) or other tax-deductible retirement accounts, or set one up if you are self-employed.
• Invest, with your tax adviser’s blessing in municipal bonds instead of bank savings, CDs, or table bonds. Many of these securities pay interest that is tax free.
• Avoid giving Congress an interest-free loan. Most people allow their employer to withhold more than they end up owing in taxes, leading to a big refund each April. Instead, work with your payroll department to lower your withholding so that they more closely match the actual amount of tax you will owe come year’s end. (Source: YJ 2008)
*Natural and Sustainable Living Tip:
What Counts:
• 1/3 Amount of earth’s natural resources that have been mined, chopped, blown up, or otherwise extracted in the past three decades alone.
• 3 to 5 Number of extra planets we would need if everyone consumed at American rates.
• 5 Percentage of earth’s population living in the U.S. (yet Americans use up to 30 percent of the world’s resources and create 30 percent of the world’s waste.)
• 100,000 Number of synthetic chemicals used in commerce today, many of which wind up in our bodies (human breast milk is the food at the top if the food chain with the highest level of many toxic contaminates.)
• 99 Percentage stuff we harvest, mine, transport or otherwise produce that is trashed within six months (many products are specifically “designed for the dump”).
• 30 Percentage of kids in Congo ho have dropped out of school to mine metals, the majority of which end up in cheap and disposable electronic products bought by Americans.
• 75 Percent of global fisheries that are fishes at, or beyond, capacity.
• 4.5 Pounds of garbage each American makes each day (twice as much as we made 30 years ago).
• 3000 Number of advertisements targets at American consumers each day.(Source: Conscious Choice 2008)
