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Here’s The #1 Reason People Cheat On Their Taxes

Cheating.  It’s a morality question we talk about with our kids, our work colleagues, and even with ourselves.  It is OK to cheat.  In a recent poll, 10% of Americans say it’s OK to cheat here and there on your taxes and the number of people that say it’s OK to cheat is up 3.5% versus one year ago.  In fact, in a Credit Karma survey that interviewed 2,000 people, only 6% of the people actually confessed to the fact that they have cheated on their taxes in the past.  So, what’s the number one reason that people cheat on their taxes? Let’s talk first about what cheating really means.  There is a big difference between tax avoidance and tax evasion.  Tax avoidance is perfectly legal.  These are strategies such as using your 401(k), tax deductible IRA’s, pension plans, health savings accounts, and many other legitimate legal tax strategies that you can use under the current tax code.  Tax evasion ...

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How NOT To Cheat When Getting Your Kid Into A Great School

Over this past week, one of the largest cheating scandals in history got cracked wide open uncovering bribery and other illegal acts committed by celebrity stars such as Felicity Huffman and Lori Loughlin.  This may be the straw that breaks the camel’s back and opens up the real investigations into how much parents ‘donate’ in order to help their children get the edge to get into the school of their choice. It does beg the question about whether it’s our children that are feeling the peer pressure about getting into college or is it us the parents who are feeling the peer pressure to compete with our neighbors, our co-workers, and our college friends.  Do you as the parent feel less self-worth when that banner in the front of the neighborhood gets put up for everyone to see or when your friends post where their kid is going to school on Facebook? I’m actually amazed by how people are surprised ...

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