Five Interesting Facts About Taxes
Your taxes are due on Tuesday. Hopefully you knew that. Anyway, here are a few random, interesting facts about taxes and Tax Day for you to enjoy…
#1.) Car accidents go up on Tax Day. In each of the past 30 years, car accidents jump 6% on Tax Day compared to the week before and the week after…possibly from people racing to the post office. Or people who did them and then got drunk.
#2.) The IRS collects only about 86% of what it’s owed. Most of the shortfall comes from people who underreport their income.
#3.) Who’s the IRS’s favorite taxpayer? Married, childless people who rent their homes and earn a decent salary get the fewest standard tax breaks.
#4.) For once, be happy you’re not rich. People with income of at least $1 MILLION are 1,100% MORE LIKELY to be audited than the average taxpayer. People making over $200,000 are 400% more likely.
#5.) What’s the easiest way to cheat on your taxes? The best way is to be the sole proprietor of a company. Then you can write off things you buy for yourself as a business expense.