How to AVOID paying high taxes? | TAX LOOPHOLES for the Rich | Examples Ep # 7/9 Video
How the wealthy avoid taxes? Or how the super-rich avoid taxes? Let us know see how the rich outsmarted this Robin Hood Tax System. In fact, they have learned how to not pay taxes.
The rich knew about the powers of a corporation since the time of sailing ships. They used to create corporations, put a limited amount of money in it and finance a voyage via their corporation. In this way, they limited their risk to the amount of money they had put in that particular corporation. If the ship was lost and its crew lost their lives, the rich were liable to the limited money they initially put in that corporation. In this way, they secured their personal wealth in case of a disaster. In modern days, the rich spend heavily on the pre-tax money of their corporation. This description is for people who find it difficult to understand how large corporations avoid paying taxes or in other words how big corporations avoid taxes.
Their visits to Las Vegas can be board meetings, insurance, car payments, their health club, and travel bills can be company expenses from pre-tax money. In this way, the rich have outsmarted the Robin Hood Tax System. That is the answer if you have ever wondered how do the rich avoid taxes or how the rich avoid paying taxes.
Rich Dad highlights that a corporation is simply a file with a few legal documents in it placed somewhere in an attorney’s office. It is a legal entity that secures the rich. Watch the video to know more.
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💡10 Highly Recommended Books
1) "Rich Dad Poor Dad" by Robert Kiyosaki: https://amzn.to/2WTmCYu
2) “Rich Dad's Cashflow Quadrant” by Robert Kiyosaki: https://amzn.to/36LAWTX
3) “Fake Money, Fake Teachers, Fake Assets” by Robert Kiyosaki: https://amzn.to/2SbYjAx
4) “Increase Your Financial IQ” by Robert Kiyosaki: https://amzn.to/3aY7Zrb
5) “Before You Quit Your Job” by Robert Kiyosaki: https://amzn.to/36PRZUX
6) “The Real Book of Real Estate” by Robert Kiyosaki: https://amzn.to/37Qt70x
7) “Rich Dad's Guide to Investing” by Robert Kiyosaki: https://amzn.to/2RMRyWW
8) "The 4-Hour Workweek" by Tim Ferriss: https://amzn.to/2nrViAE
9) "The Lean Startup" by Eric Ries: https://amzn.to/2o9tiSG
10) "Eat That Frog: 21 Great Ways to Stop Procrastinating" by Brain Tracy: https://amzn.to/2mBY6uI
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6. US Income Tax History | History of Taxes in the United States Ep # 6/9
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7. Why you should watch Rich Dad Poor Dad Series?
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8. Adopt Pay Yourself FIRST strategy & Learn How to Make MONEY Work for YOU | Financial
Education 8/9
https://youtu.be/zMVxkbDgqJs
9. Rich Dad Poor Dad by Robert Kiyosaki | Summary
https://youtu.be/pIbeOF0PV5g
10. How to Get Rich? Learn from Robert Kiyosaki's Biography | Rich Dad Poor Dad
https://youtu.be/Yf90Cq3jNTI
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