The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Getting a refund without paying taxes||Date: 2/13/2002 12:39 PM|
|Author: hghcpa||Number: 58911 of 120444|
I have experienced similar situations as I do taxes for low income taxpayers at a local non-profit entity. I don't feel guilty about the refunds for these people as they usually do not make more than $30,000 with three or four kids.
they pay no taxes and pewrhaps already receive government aid and food stamps (likely) in addition to the EIC. To me it is totally unfair. EVERYONE in this country should be required to pay some income taxes to contribute their fair share to the operation of our government. Each and every citizen receives the benefits of our free society, yet certain individuals are afforded the luxury of not sharing in its cost.
It is absurd.
I also do taxes for other individuals including myself who have a somewhat similar situation to yourself where their w-2 income level is over $60,000, however they have investment properties or other tax shelters that result in no taxes due uncle sam,
please share with us where we can find such an investment(a holy grail) .. one that gives a positive return yet can yield allowable deductions whereby 60k of income results in little if any tax due ???
I need to share this with some of my clientele..
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