Why Are the Ultra-Wealthy So Good at Avoiding Taxes?
While many in the media, as well many lawmakers on the left, would have you believe that the nation’s wealthiest individuals are really good at skipping out on their taxes and that they don’t pay their fair share, the fact is, in most cases, that’s not true. Yes, it is true that many of he richest people in America pay fewer taxes than most of their employees. However, they use perfectly legal means to accomplish that.
So to be clear, while the rich might pay less than some people think is fair, that does not mean they cheat on their taxes. In fact, the rich manage to achieve this feat simply by doing one of two things. They either know how to manage their money and finances very well, or they hire someone to do it for them. Tax planning is an art, and when done right the nation’s wealthiest individuals avoid paying more than they legally have to.
Again, they are not cheating they are just being smart. There are several methods the rich, and their tax planners, use to keep their tax bills down. Whether it’s through prudently managing capital gains, modifying your income, using proper borrowing strategies or through tax deferral, all these measures are legal and will keep your tax bill down.
If you count yourself among the nation’s wealthier class and you are looking for ways to save more money on your tax bill, then you should contact GROCO. We have been helping wealthy individuals manage their money and plan for their taxes for decades and we can help you too. Please contact us for more information by clicking here or give us a call at 1-877-CPA-2006.
Develop a Sound Investment Plan
Develop a Sound Investment Plan When the stock market heads south, is your first instinct to sell stocks and get into something safer? With a well-planned portfolio, that’s probably the last thing that you should be doing. After all, a plan tailors a mix of stocks, bonds and cash equivalents to your particular financial goals,…
Bad Attitudes in the Workplace
Bad Attitudes in the Workplace Studies show that employee morale has taken a hit lately. Worker morale slumped last year, according to the results of a new survey from Randstad, one of the world’s largest professional employment services providers. The review was compiled from 3,233 online interviews, conducted this spring for Randstad by Harris Interactive.…
The Language of Wills
The Language of Wills Many professions and disciplines have their own vocabulary. As an example, think about the terminology used in medicine and law. Often this vocabulary defines complex ideas, yet just as often “terms of art” can be defined with relative ease to a layperson. Such is the case with much of the language…
3 Strategies to Convert Perfectionist Paralysis Into Productivity
3 Strategies to Convert Perfectionist Paralysis Into Productivity By Paula Eder Time management tips help you break time habits that hinder your progress. For example, think of habitual perfectionism as the ultimate time goblin. The more of your time you feed it, the larger and more tyrannical it becomes. Fortunately, perfectionism is a learned behavior…