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Author Question: Why is it important to understand how taxes impact your personal financial planning? (Read 126 times)

roselinechinyere27m

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Why is it important to understand how taxes impact your personal financial planning?


◦ Taxes paid reduce your net income and cash flow available to save as well as the returns on your investments.
◦ Not paying taxes can result in penalties and jail time.
◦ It is not that important since savings are not taxable.
◦ It is only important if you are in a 25%+ tax bracket.


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Marked as best answer by roselinechinyere27m on Apr 12, 2019

firehawk60

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firehawk60

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