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What is your biggest challenge when it comes to taxes?
I don’t personally face challenges, but based on what most people in Nigeria struggle with, the biggest tax challenges are usually: 1. Confusion About Where to File People often don’t know: Should I file with State or Federal? Which state should I file in (where I live vs where I'm from)? This is veRead more
I don’t personally face challenges, but based on what most people in Nigeria struggle with, the biggest tax challenges are usually:
1. Confusion About Where to File
People often don’t know:
Should I file with State or Federal?
Which state should I file in (where I live vs where I’m from)?
This is very common — especially for people like you who move for work.
2. Not Knowing If They Even Need to File
Many people ask:
I’m self-employed — do I file?
I’m not working — do I still file?
I’m a student — do I need tax?
3. Getting a Valid TIN
Issues include:
Multiple TINs
Online TIN not working
State vs FIRS TIN confusion
4. Fear of Penalties
People worry about:
Late filing penalties
Back taxes
Interest charges
5. No Clear Income Records
This affects:
Keke drivers
Traders
Freelancers
Small business owners
They don’t know:
How much to declare
How to estimate income
See lessWhy do you think,the rich keep getting richer,and the poor,more poorer?
This question has puzzled many people for years. Why do the rich keep getting richer, while many hardworking people keep getting poorer — even though everyone has 24 hours, a brain, and a body? The answer usually comes down to how different groups think, earn, and use money. Here are the real reasonRead more
This question has puzzled many people for years.
Why do the rich keep getting richer, while many hardworking people keep getting poorer — even though everyone has 24 hours, a brain, and a body?
The answer usually comes down to how different groups think, earn, and use money.
Here are the real reasons:
1. The Rich Focus on Assets, The Poor Focus on Income
Most people work for income (salary, wages, hustle).
The rich focus on assets (things that make money even when they sleep).
Examples:
Poor/Masses → Salary, small business, daily hustle
Rich → Stocks, businesses, real estate, investments
So:
The masses work for money
The rich make money work for them 💰
This is why many wealthy people earn even while sleeping.
2. The Rich Use Time Differently
Everyone has 24 hours, but:
The masses trade time for money
The rich use systems and investments to multiply time
Example:
A worker earns ₦10,000 per day
An investor earns ₦10,000 from investments without working
Over time, the investor grows faster.
3. The Rich Understand Compound Growth
The rich invest early and let compound interest grow their wealth.
Example:
₦1 million invested at 15% yearly
After 10–20 years, it becomes multiple millions
Meanwhile:
Many people spend instead of investing
So their money doesn’t grow
The rich benefit from time + compound growth 📈
4. The Rich Take Calculated Risks
The masses avoid risk
The rich take calculated risks
Examples:
Starting businesses
Investing in equities
Buying properties early
Risk creates opportunity — but only when calculated.
5. The Rich Focus on Ownership
The rich own things:
Businesses
Shares
Land
Companies
The masses mostly:
Work for owners
Buy liabilities (cars, expensive phones, etc.)
Ownership creates long-term wealth.
6. The Rich Learn Financial Education
Most schools teach:
How to work But not:
How to invest
How to build wealth
How money works
The rich learn money skills intentionally 📚
7. The Rich Delay Gratification
The masses spend first
The rich invest first
Example:
Masses: Buy new phone after salary
Rich: Invest first, spend what’s left
Over time, this habit builds wealth.
The Real Truth (Simple Summary)
The rich get richer because they:
Invest more
Own assets
Take calculated risks
Use compound growth
Delay spending
Think long-term
While many people:
Spend more
Work only for income
Avoid investment
Think short-term
See lessWhat is your immediate priority the moment your income or wages hit your bank account?
There is no one-size-fits-all answer—but structure matters. A simple approach many people use: 👉 Spend what is necessary👉 Save for stability👉 Invest for growth The challenge is not income… 👉 It is discipline and consistency.
There is no one-size-fits-all answer—but structure matters.
A simple approach many people use:
👉 Spend what is necessary
👉 Save for stability
👉 Invest for growth
The challenge is not income…
👉 It is discipline and consistency.
See less