Forbes – Neale Godfrey
“That time of year is upon us. Yes, it’s tax season! We always seem shocked by the fact that tax-time has crept up on us so unexpectedly. Nevertheless, Benjamin Franklin once reminded us that, “In this world nothing is sure but death and taxes.” Paying taxes is real and it is the law, according to the U.S. Constitution. Therefore, if you don’t pay, the Internal Revenue Service (IRS) has right to go after you or your estate to get what is owed… plus penalties… forever. Paying taxes is also a practice and, frankly, a habit that has to be built into any budget. It is never too early to start that discussion with the next generation, because if you don’t, they may get the wrong impression and feel that they are the victims, as if paying taxes is an injustice. We grumble about taxes this time of year and we need to be conscious of the affect that attitude has on our young children…Learning about money is learning about values, and one of those values is citizenship. Taxes help a country to pay its bills for the services that even rich people could not pay for on their own…The earlier you can start the conversation with the next generation, the easier it will be for them to embrace it, plan for it, and be honest about it.”(more)