How The Rich Avoid Paying Taxes (And How You Can Too)

Find out how the richest in America avoid paying income taxes.
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The richest people in America know how to reduce their taxable income down to zero, despite controlling millions in assets. In this video, one of our best CPAs break down their tactics in a simple and easy to understand manner.
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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).

[@SpeezyOTB]

This channel is super helpful.

[@jenjen8086]

Own nothing but control everything by creating a separate entity and using that entity to control all assets.

[@kaseyawilson]

My new favorite channel

[@de_Atavist]

Any videos on how to operate as a 1099 worker using the LLc with S Corp designarion...Nurse Practitioner from ATL asking...Keep. up the good work Brother!!

[@LYFEAccounting]

There is a lot you can do. I work with several practitioners in the medical field. Consider applying to work with me at mycpacoach.com

[@lovelylovem]

This channel is packed with information that's not only easy to understand but super helpful thanks ..... Are you excepting new clients? If so where to sign up

[@Nick-Franks]

How do they pay for things with no personal taxable income? Wouldn’t they have to borrow against assets?
Also, I thought purchases over $2500 or $5000 have to be depreciated and can’t be written off, even if they are for business use 100% of the time. How would jets yachts and cars be written off?

[@tyecooper4536]

For #1 arent you just shifting the tax burden. You still have to pay the tax whether in your business name or your personal name. They get tax write off because they are up to their neck in debt. So you're either paying interest on loans (debt) or pay taxes on income. Either way you're not getting off easy.

[@LYFEAccounting]

You’d have to understand how the government uses the tax law to incentivize behavior to find the answers to this comment. But in short… you don’t have to go in debt to avoid taxes.

[@christopherwarsh]

The super rich should be paying 30% of their income in taxes. They aren’t rich because they are generous