How do billionaires avoid taxes

How do billionaires avoid taxes

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ok first thing you got to do is get a billion dollars

done. now what

Explained in 24 seconds
youtube.com/watch?v=r6fu-Wi1kKQ

The youtube channel is top quality redpilling.

Offshore Funds / Havens
"Charity" funds

>Elon Musk
I'd be straight down the registry office to have that name changed.

Sounds like some cheap perfume off a market stall. Sort it out Elon you weird looking prick.

-tax credits for companies
-write off fraud
-straight up lying about taxes
-offshore accounts
-NGOs and Charities

When you achieve a high enough tax bracket, the world tends to notice you more and things tend to go more your way.

It's not really a secret or hard to do. Even if youre a complete fucking retard with a billion dollars, some accountant somewhere will hide your money for you.


Example: I have a multi-million dollar company with a physical residence in my building, however, on paper it says I only make $200,000 a year and my office is at home, which is tax write off.

Billionaires don't have billions in cash on hand. It's billions of dollars in assets. Stocks, real estate, personal property. The federal government only taxes income.

Sounds like ballsack essence. Admittedly I like the smell of my own, but I do not think there's much of a market for others to partake.

hieno youtube kanava hei, mitäpä jos tunkisit sen vaikka perseesees ja lopettaisit tän mainostuspaskan

>Sort it out Elon you weird looking prick.

britcuck priorities, ladies and gentlemen

Tuu tänne sanoon

Billionaires pay their taxes directly to our overlords, in the form of personal bribes.

>how do the guys that write the laws find all these loop holes

Owning shares in their company, the increase value of which isn't taxed unless it's sold or traded.

This.

>The federal government only taxes income

But government taxes everything. Property tax. Sales tax. Road tax. death tax. I can't think of anything they don't tax.

What? Stupid named people should change them.

youtube.com/watch?v=jl1Zfz-Widc

This idiot woman in Germany still hasn't changed her name, why the fuck would you walk around with a retarded name? I mean honestly now.

>Sounds like ballsack essence.
Top lel it really does.

billionaires dont have a billion in the bank, theyre billionaires because the stock in their companies is worth that much. Bezos only makes $80,000 a year but is worth 59.1b

They pay enormous amounts of taxes

They pay more taxes yearly than the sum of taxes you'll ever pay in your life

And that's even after deductions and ofshore accounts

>Property tax.
Not really.

>Sales tax
Nope, lol.

>Road tax
Do you mean pay tolls on highways? Yeah, that's a huge expense for billionaires.

>death tax
This is a misnomer. People aren't taxed once they die, but transferring to a non-charitable entity counts as income for that entity, which would be taxed. I'm not if or how this would be avoided.

I'm not sure*

>property tax

Nope? Wtf are you high? Quit being a fucking pleb in lots of lace property taxes are fucking criminal

>sales tax

You know all those fancy planes and ships and suites

Yep sales tax

And all the people to tailor and pilot those cool vehicles

Employees and thus payroll taxes

there's no avoiding the estate tax, unless you died in 2009 when the estate tax was 0% thanks to the Bush tax cuts

>Nope? Wtf are you high? Quit being a fucking pleb in lots of lace property taxes are fucking criminal
That's at the local level or state level, you idiot.

>You know all those fancy planes and ships and suites
What the fuck are you talking about? There is no general sales tax, except maybe on limited items.

trusts

I have a company.

It makes profit.

From that profit I pay myself minimum wage.

From the profit, I pay myself a massive shareholder dividend.

I pay no tax on the dividend and the company profit is now reduced.

As a result, I pay less corp tax.

I then decide to invest in another company I own.

Again my original company's profit is now reduced so I pay less corp tax.

I then pay myself a dividend from company 2 since I am also the sole shareholder of this.

Tax avoidance is legal and it would only be illegal if politicians weren't making so much off the very rules they set.

>only federal taxes count as tax

Kill yoursef

>I pay no tax on the dividend

dividends are taxed homey

Let's find out.

Have Trump release his taxes.

It's not too clear what he was referring to. He just said government when the person he was responding to was talking about federal taxes, and highway funding aside from tollbooths comes from the federal income tax

In that case, the answer to the question is that billionaires don't usually have a large amount of their assets in properties, don't consume that much and therefore don't pay that much sales tax,

>there's no avoiding the estate tax, unless you died in 2009 when the estate tax was 0% thanks to the Bush tax cuts
I wish Puerto Rico annexed Florida but gave it independence, so everybody here could pay almost no income or corporate tax.

>donate money anonymously to foreign '''''''''''charity'''''''''''''
>give ''''''people'''''' ''''''''''''''''gifts'''''''''''''''''
>'''''lose'''''' money
>literally just make tons of info up without having to prove it

That plan is fucking retarded, but what if you:

1. Own a foreign company in a country with zero corporate tax
2. Take all your salary from this company in the form of debt, meaning it's not income.
3. ?????
4. PROFIT!

You might as well just not report your total income. It would be just as legal and much easier to hide.

that's a bit of a myth, we pay state income tax down here that's equal to what you would pay in the states to the IRS

>Take all your salary from this company in the form of debt

?????

They start non-profit "foundations," or some others bullshit name. Then, they "donate" large sums of money to said foundation.

Easy.

Set up a company in a country that doesnt have corporate taxes. Give that company the rights to all your logos, and products.

Your company in the US "pays" the foreign company VERY heavily for use of your products.

You write off the payments to that company as a loss, and you don't pay taxes. easy

They pay politicians to keep capital gains tax and dividend taxes low... and use off shore companies in tax havens which hold their shareholding in their investments. If those off shore companies sell shares in e.g. Tesla, the money flows out of America (typically tax free) and isn't taxed in the off shore tax haven such as the British Virgin Islands. That money is then paid out to the billionaire, again tax free as the dividend would have to be paid in the tax haven, which doesn't have such a tax.

It is all perfectly legal and the politicians are in the boat of the rich. You could all change this by moving to a consumption tax / import tax related tax system, but you will never find the votes in Congress, because this would significantly reduce tax contributions to campaigns from the rich.

If American citizens spend half the year in Puerto Rico, they pay a much lower corporate and income tax.

>?????
If you take out a loan from a bank, it's not taxed until it's paid off. The same principle would apply here. Subsidiaries of companies use the same principle, (by accruing debt to use trademarks, for instance), to lower their taxes.

>They pay more taxes yearly than the sum of taxes you'll ever pay in your life
Any billionaire worth a cent will optimize his or her tax structure, so they pay little to no tax.

Any billionaire actually paying any income tax is doing something seriously wrong and should fire his tax advisors.

I'm Sikh and my old man is an accountant and owns his own firm. The guy makes a killing by advising people on how to avoid taxes.

One thing I know he does is he makes "mistakes" on reporting.

So, the whole reason why we voluntarily do taxes is because the government wants to make sure that they catch all the possible tax revenue. Many rich people make money through the obvious 9 to 5, but they also have offshore investments that the government has no idea about, UNLESS they decide to do an audit, which is rare, but becomes more likely if you are suspected to be evading taxes.

So, there was a truck company in... the Okanagan somewhere and they had a pool of $400,000 that they didn't dish out. These were for repairs and emergencies or some shit. They got audited and the government wanted to tax that money as income. They asked my old man, and my old man made up some shit about how that money's been taxed already and really took the auditor around in circles till they just decided to give up.
My old man then suggested that they get rid of this money by turning it into income for the workers and dishing it out in the lowest possible bracket.

I once heard someone say, "Smart rich people read the tax code on their spare time."

pretty much this rich people do pay taxes but not all of them

the IRS or whatever your county has is not able to keep up with the tax evasion tactics. Many politicians also have no intention to fix this problem becasuse many of them do the same.

They rather tax more on honest hard working people than fixing this loopholes

And on the news I should have empathy for Bernie fucking Ecclestone because some dudes kidnapped his mother in law while this faggot presses millions and billions out of his useless "sport"

you can do anything once youre that rich, youre part of a little club and ive always wondered what it feels to be able to get whatever you want, make anything go your way. they must talk of the poor/working class like utter shite

Hey senpai no h8 on F1 pls

via right offs

its kinda like buying expensive things not because you want to but because you have too

Nice trips.
>Many politicians also have no intention to fix this problem becasuse many of them do the same.

Yeah, and many of the people that benefit from this system often pay the politicians to keep the system riddled with loopholes.

...

They then get to the front page of Reddit.