Taxes—The Good, the Bad and the Smart

Key Takeaways

  • You can’t get away from taxes, but people who are well-informed pay less.
  • The majority of Americans pay not one but three taxes on their salary—federal, state and payroll.
  • There are a myriad of deductions, exemptions and strategies you can use to lessen your tax bite and accumulate wealth from Day One of your working years.
  • When investing, always look for tax-deductible, tax-deferred and tax-free options.