7 Profiles of Tax Cheats
Who is more likely to cheat at taxes? 7 profiles have been observed. Find out more in the list below. The year is coming to an end soon, and you better work out your taxes before April, so that you can get as much rebates as possible, or make some donations.
1. Tax Cheats Are Thrill Seekers
They tend to be energetic and impulsive. They love to take risks. I guess people take the kick out of being able to get with something.
2. In Business
He tends to be in investment banking and entrepreneurship. That explains the curry puff hawker, since he runs a sizeable business.
3. Men Tend To Cheat More
Overall, men tend to lie on their tax returns, while women are less likely to cheat because they know the penalties if they are caught. In addition, some men declare the taxes for their wives, so the wives do not handle the taxes. A larger proportion of women stay at home without income compared to men.
4. Educated Women Tend to Cheat More
While women form a smaller percentage, those with degrees tend to cheat more. It could be that with better knowledge, they earn more and hence are more likely to try to reduce their amount of tax payment. Those with lower education may earn less, and hence there is no need to cheat. Or is it due to different values?
5. Self-employed
Self-employed people tend to cheat more, because they are the ones who declare their taxes. Employees have their taxes declared by their employers, hence there are fewer opportunities to cheat. And because of this, they get audited by IRAS more often.
6. High Fliers and The Wealthy
The ones who earn the most have to pay the most. In some countries, they can pay up to 50%. Hence, there is greater incentive to try to reduce the taxes to get away with the exorbitant taxes. You hear about some famous sportspeople moving away to tax havens just to keep more of their money. Again, they get checked more often by IRAS.
7. Show Me The Finger
People who love to show their middle finger or gesticulate rudely while driving are likely to cheat. It’s because they feel offended by other people and society at large, and resort to getting even through such ways.
Do you fall into any of the above categories? Adapted from an interesting article about the profile of a tax cheat in Psychology Today.
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[...] out this cool article about who amongst us is more likely to cheat on his taxes at Seven Profiles of Tax Cheats. Ya gotta love this one: Show Me The Finger – People who love to show their middle finger or [...]
hi, i am also one of the investor. was trying to contact them but nobody pick up the phone. Did anyone try going down to the office? So piss off now..
Really insightful posts here. Glad I finally found this place. I can’t remember who referred me here, but sure glad they did.