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millionaire tax breaks Ever wonder how wealthy people pay so few in income taxes? Here are some ways that wealthy individuals lower, or in some cases eliminate their federal tax bills.

The true effective rate for the super wealthy is actually much lower than that indicated by official statistics. Those figures fail to include the additional income generated by many sophisticated tax-avoidance strategies used by high net worth individuals.

Using tax deferred strategies such as purchasing large community properties, paying yourself in dividends, or claiming deferred income can save multi-millionaires huge sums of money, and allow them to continue to accumulate massive riches.

Be careful when using sophisticated tax reduction strategies, as the IRS can come after you for unpaid taxes if you improperly claim deductions and tax breaks..

full article in BusinessWeek magazine.

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2 Responses to How the Rich Pay No Income Taxes

  1. AldamaHemmer says:

    Salacious advertising and silverspoons belong to the rich. Anyway I am struggling just to pay my 8k tax bill.

  2. Gil Mancine says:

    I thought this quote was very accurate “Nothing can stop the man with the right tax plan”.

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