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.
15 Tips to Streamline Your Business and Become Profitable in 2007
15 Tips to Streamline Your Business and Become Profitable in 2007 By Julian Stone Here are some tips to help you ‘cut the fat’ and improve the productivity of your business. If you apply a few of these, you’re well on your way to achieving greater profit and creating less stress! Cut the SlackersCut the…
10 Ways to Increase Your Profitability
10 Ways to Increase Your Profitability “Profitability is as dependent on cutting costs as it is on increasing sales.” Profitability is as dependent on cutting costs at it is on increasing sales. As financial advisors, we are often called upon to assist management in reducing costs and finding alternatives to their unique situations. We have…
10 Mistakes That Reduce Profitability
10 Mistakes That Reduce Profitability By Rachna D. Jain In my professional experience as a sales and marketing coach/consultant, I’ve had the opportunity to work with a number of small business owners on various issues related to sales and marketing. The owners who are struggling to keep their businesses afloat tend to engage in some,…
Retirement Plan Options For Small Businesses
Retirement Plan Options For Small Businesses Updated: 1/4/2013 According to The Pension & Welfare Benefits Administration, small businesses employ about half of the private-sector workforce in the United States. However, a majority of small businesses do not offer their workers retirement savings benefits. If you’re like many other small business owners in the United States,…