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Tax Basics For Beginners (Taxes 101)

The tax code is over 70,000 pages long, so it's understandable why so many people find taxes to be challenging, but I'm here to help explain taxes simply and easily for everyone with my tax basics for beginners. Book a Tax Services Discovery Call: https://schedule.lyfetaxes.com/discov... If you watch this entire video then you will discover: - How the tax system works - How taxes are calculated (looking at taxable income, tax deductions, and tax credits) - Why taxes work differently for businesses and investors - Review how to file a tax return - How to put together a tax plan Timestamps Taxes 101 (0:00) #1 What are taxes? (1:50) #2 How tax system works (3:15) #3 How taxes are calcualated (5:50) #4 Tax Deductions vs Tax Credits (7:34) #5 Tax Incentives (9:15) #6 Different Types of Income (11:25) #7 How to File Taxes (13:00) #8 How to Create a Simple Tax Plan (14:42) My Little Secret (17:37) Other Relevant Taxes 2022 Videos: How to File Taxes as an LLC Owner:    • How to File Your Taxes as a LLC Owner...   How to File Taxes as an Individual:    • How to File Your 1040 Individual Tax ...   15 Individual Strategies to Reduce Taxes:    • 15 Individual Tax Strategies to Avoid...   How Tax Planning can Save Millions:    • How Tax Planning Can Save You Million...   7 Popular Tax Write-Offs That Could Trigger an IRS Audit:    • 7 Popular Tax Write Offs That Could T...   Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos! /// Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).