Tuesday, April 26, 2022

Money Crashers: 5 Different Types of Taxes

Not every article that I write for Money Crashers goes up here. I try to post only the ones that have at least a tangential connection to ecofrugality (which is why you're not seeing a link here to a recent post that provides, I swear, a definition of a bank. Writing this was not my idea.)

Thus, I had some doubts about whether to include this one, 5 Different Types of Taxes and How to Minimize Them. It's only loosely connected to frugality and has no obvious connection to the environment at all. 

But upon consideration, I concluded that if you want to spend your money in ways that help the environment, paying taxes isn't necessarily the best way to do that. Yes, some of your income tax dollars go toward environmental protection, but it's less than a third of a cent out of each dollar. You could do far more good by reducing your taxes and putting all the money you save, or even half of it, into carbon offsets, or donating it to Project Drawdown.

So if you'd like to spend less on taxes and more on the environment, check out the article. It covers strategies for paying less on five kinds of taxes: income tax, excise tax, sales tax, property tax, and estate tax. Chances are, you won't have to pay all five of these this year, or maybe ever. But you're sure to pay at least some of them.

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