You've probably heard the saying "a penny saved is a penny earned." Makes, sense. A penny is a penny, right? It's actually not exactly true. In most cases a penny saved is actually better than a penny earned. “What?” you ask? Well, thanks to federal taxes, earning a penny typically leaves you with only a fraction of your hard-earned coinage, while saving a penny post-tax leaves you with an actual full, shiny, copper coin. In fact there are many benefits to saving versus earning, so let's take a look.
Taxes
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