Do you actively seek out and take advantage of tax-saving opportunities?

[Debashis]

I always look for opportunities of saving tax. In India, we pay a huge 30% of our income as tax which is extremely bad. So, we have to find financial instruments using which we can save our taxes and claim back whatever we pay. If not the entire amount, at least a major portion of it. It's painful to give away 30% of our hard earned money just like that. If you think deeper, you'll realize that about 4 months of hard earned money we are losing. The saddest part is its not it, we pay taxes on each any everything we consume. From food to every small service, we pay tax, something called GST (Goods and Services Tax). So, it is very very important for us to save as much as we can in terms of paying taxes.

 

[Grant]

If you're a small business, or run a business, you will want to consider looking for tax saving options as well as other government programs that are there to help small businesses and people in need.

If there is a tax saving opportunity out there that makes life easier, I'd consider trying it.

 

[Frank]

If you're a small business, or run a business, you will want to consider looking for tax saving options as well as other government programs that are there to help small businesses and people in need.

If there is a tax saving opportunity out there that makes life easier, I'd consider trying it.

I run a small business and I am always seeking ways to save some tax expenses legally. I speak to some experts on this too and they have helped me in shaping my mind on what and what that I need to do to save up some money that should have gone fully into taxation.

 

[Kane]

Earned income has higher taxes than capital gain taxes. For instance, you pay more taxes on your salary compared to the profit you make by selling stocks. You don't pay taxes on debts. So, in order to save money on taxes, keep your earned income low, run your business through debt and avoid selling assets.