What is The Purpose of Taxation?
Programs Funded By Income Tax Dollars:
Infrastructure
About 6% of infrastructure funds by the government are funded by income taxes.
The term “infrastructure”, refers to seperate categories the government invests income tax dollars into.
These projects regularily covered by income tax dollars include roads, bridges, public transit, airports and marine terminals; constructing public schools, government offices, courthouses, police stations, firehouses, & public parks.
Cleaning water systems and funding public sanitation facilities are also funded by income tax dollars.
Benefits
Income tax dollars also fund major public programs like social security for retired and disabled workers; medical insurance benefits for elders like medicare, and Medicaid for low-income.
Furthermore, government programs like unemployment , food assistance, and housing aid are funded with income tax dollars.
National Debt & Defense
Roughly 13 - 15% of federal spending on net interest of treasury securities held by the public, are from income tax dollars.
Defense projects also are large operations funded by income tax dollars.
Global operations managed by the department of defense lke the military are further extensions of income tax dollars.
How We Work Your Tax Dollars In Your Favor:
By understanding tax breaks, we use our gained experience to navigate your portfolio in the best legal way possible.
Whether you are a business owner looking to elevate your financial awareness about your annual tax flings, or you are simply looking to understand available credits and deductions you may be able adopt- We automatically work to reflect your true income ratio whether you understand all what’s available to you, or not.
Our primary goal is your return service and referral of business.