Contrary to general belief, taxes are not a once-a-year phenomenon. Taxes are ubiquitous. You pay taxes when you earn wages, and you pay taxes when pay wages; you pay taxes when you buy goods, and you pay taxes when you sell goods; you pay taxes when you rent a house, and you pay taxes when you own a house. More than 50% of your income goes to taxes.
Taxes, arguably, are your one single largest expense over the course of your lifetime. And yes, they are more expensive than your children-- college expenses and all.
But there is a silver lining-with some planning, we use tax laws and tax planning to your advantage. Especially, if you own a business.
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