Tax Time Tips for 2006

Taxes; nobody likes it. Working hard and almost 50% goes to the government who spent it often on things you don’t like. Of course we consider that it is necessary to pay taxes but it is important that we know the laws to have the benefits which are possible in these laws.

It is difficult to give tips for 2006 because the laws are different in every country. The laws in America are different than these in Europe, Africa, Asian, Australia and even between the different countries in every continent.

Tips can’t be accurate at this moment because there are always laws which can change in one of the next months and have his influence on the income of 2006.
It is important that you fill in all your resources in your tax declaration. It is important that you make use of the deductions which are possible.
Contributions to a pension fund are popular the last years and it is very important that you notice the amount you paid and a certain percentage can be deducted. The maximum amount that you can save and counts for deduction is 810.00 but on average 30% can be recuperated by the taxes.

There are a lot more deductions all kind of costs that is relevant with the activity of your work can be deducted of your total income. You need to be sure that your real costs are higher than the fixed amount which will be deducted automatically. Of course some costs can be deducted till a certain amount by example the costs of your car like fuel, maintenance of your car, the price you paid for your car; these expenses can be deducted for 0.15 for each km you drive to your work.

The laws are also different for people who work on a freelance basis or a self-employed person.
The laws are too complicated to give you here all the tips for my country and it is not the same in other countries. Maybe it is possible to compare some laws between the different countries but every system has his advantages and disadvantages.

In some cases it can be useful to pay a bookkeeper to know how you save a lot of taxes. It is up on you to know if you have benefit by paying a bookkeeper.