| Vern Jacobs'
Taxwire Commentary, news and
reflections about
this taxing life, by Vernon Jacobs, CPA. Jacobs is the co-author of Legal Ways to Save Taxes Offshore & Onshore, of Offshore Tax Strategies, of The Controlled Foreign Corporation Tax Guide and of Risk Management for Amateur Investors. He is the Editor & Publisher of the International Wealth Protection Monitor newsletter and the free Q&A service, the Jacobs Report on International Financial Planning. He is the President of Offshore Press, Inc. and is a member of the International Tax Technical Resource Panel of the American Institute of CPAs. He has been a CPA since 1962, with a focus on taxes since 1975. . |
||
| Tax Reform Backlash One of the common
ways in which taxpayers attempt to reduce their taxes is through
political
participation. The problem with this approach is that you can invest a
great
deal of time and money without ever getting any personal benefit from
it.
First, you have to find or to persuade a number of other people to
agree with whatever
political change you wish to make. The more people you get involved in
your
program (or in support of your candidate), the more variations on your
objectives that will be introduced and the more compromises you will
have to
make to secure support. But getting a change in the
law isn't an assured solution. On it will go, back and forth. Changing the method of taxation by political means is like an endless tug-of-war. You end up investing a huge amount of energy, time and money in a cause that will - at best - only provide you with a very small benefit. At worst, you will get no benefit at all and will be out of pocket for the value of your time and for the money you have contributed to the cause. by Vernon Jacobs, CPA Co-author of Legal Ways to Save Taxes Offshore & Onshore http://www.offshorepress.com/legalways2save.htm
|
Vern Jacobs' Taxwire
is a free syndicated service for the print and Internet media. To
receive Vern Jacobs' Taxwire
by email, fill in the short
request form. Jacobs is the co-author of Legal Ways to Save Taxes Offshore & Onshore, with J. Richard Duke, JD, LLM. ![]() |