Personal Finance
10 Ways the Rich Avoid the Taxman
10 Ways the Rich Avoid the Taxman
Nobody likes taxes. However, when the super rich are stuck in forfeiting millions of dollars to taxes each year, they probably despise them even more than the average person.
That’s where their dough comes in handy: they can afford to have their legions of legal and accounting advisors to move around their money around through common loopholes in the system. This infographic shows how the wealthy avoid paying massive amounts of tax that they would pay if they just took everything as straight up income.
The top 10 methods to help the rich avoid taxes include: freezing the value of assets, sending money overseas, using a shell company or incorporating a personal brand, stock options, and deferred compensation plans.
Original graphic from: Top Accounting Degrees
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