Michel Valbrun is helping brands grow by minimizing their tax liabilities through the 10 commandments show.
Filing taxes is the responsibility of every citizen. As you reside in a country and use its resources you should also give back something for the development and advancement of your country. People often debate that cars, children, luxurious material, etc. are their largest expense but that is not the case. If you ponder hard, you will recognize that your largest expense is the tax that you pay every year.
Michel Valbrun is a Certified Public Accountant (CPA) and the President of the Valbrun group. He helps people in creating generational wealth by maximizing profits and minimizing tax liabilities. He says that almost 50% of a person’s income goes to taxes. He shares, “If you donʼt have a solid plan in place and a CPA who is focused on saving you money instead of just going through the motions, you’re letting your hard-earned money slip right through your fingers and into the hands of the IRS.”
Here are the 3 common tax-saving mistakes shared by him that every person intends to make-
1. Not Filing On Time
You are already paying a lot of taxes out of your salary. However, if you procrastinate or fail to file your taxes before the deadline, you will have to submit interest. No one likes to lose their money and certainly, no one likes to let go of more of it.
Make sure you are filing yours within a stipulated time which you can easily find out through the official websites or your HR. Hiring a good CPA accelerates the process even more. For example, a skilled CPA like Michel Valbrun helped in saving $8 Million in accumulated lifetime savings in the year 2019 and he only intends to increase that number in the coming years.
2. Not Keeping Track Of Tax News
Always keep a track of all the news about taxes if you want to know how you can minimize your tax liabilities. The government often makes changes in the tax patterns as any other aspect of government-handled service. When people are not aware of these changes, they follow the old metrics and lose a lot of money because of errors.
If you want to stay up-to-date make sure you check the IRS news page and follow relevant blogs so the valuable news does not escape unknowingly.
3. Calculation Errors
The most basic mistake that many people make while filing their taxes is making math errors. These errors are made by people who try to handle their taxes on their own by following the formulas that they are not aware of and hence end up losing money.
As such, in order to prevent headaches, it is always recommended to hire good CPAs who will take the burden off your shoulder and make sure that your taxes are filed duly and in the correct manner. They also provide exclusive services that help save money and save tons of money on taxes.
If you want to learn about saving money in taxes ethically and legally do visit Michel Valbrun’s Instagram profile.