How billionaires avoid paying tax 📉 #entrepreneurship #financialfreedom #businesssuccess

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Manage your Finance with Budget Planner.
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ceovibe
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From what I’ve gathered, it's all about loopholes and smart portfolio management. They don’t just earn a salary—they make most of their money through investments, which are taxed differently."

roseyfischer
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5 % interest is way cheaper than 30% capitals gain tax.

CIAragDe
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I'm new to investing and trying to make sense of all the conflicting advice on asset allocation. On one hand, ETFs and index funds seem like a safe bet because they offer broad diversification and lower risk. On the other hand, some argue that individual stocks, if chosen wisely, can potentially provide much higher returns. I understand both options have their trade-offs, but I'm struggling to figure out which strategy makes the most sense for someone starting out who also wants room for growth. Honestly, I’ve already made some rookie mistakes. I panicked during a recent market dip and sold off a few positions, which triggered unexpected capital gains taxes

AlexMorganlive
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You don't get taxed on debt, use that to your advantage. Remember that.

phasmid
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Step 1: be a billionaire.
Step 2: be a fucking billionaire.

IntellectNobody
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Disclaimer : do it only if you own a multi billion dollar company

MajidSaeedAkbar
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He does pay taxes on the capital gains as he sells shares to pay the loans. The loans just allow him to defer the taxes and grow his wealth more. That's great and minimizes tax liability but never eliminates it.

danieldimartino
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He doesn't ask banks, he asks investors.

BenMrfixit
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That’s how money makes money. It’s for the rich & elite.

cagii
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There's one crucial detail that he got not quite right: Elon doesn't need to go to the bank to borrow money. Tesla has about $20 billion cash on hand (this is verifiable in its public financial records.) Tesla loans Elon money at zero percent (or close to it.) And Tesla knows he's good for it because he owns tens of billions of dollars worth of the company.

So as long as the company holds the cash on its books, he can borrow it, use it and the company records the outstanding balance as an accounts receivable, i.e. money Elon owes the company back at some point. But there is no taxable transaction, no income tax to be paid, until Elon sells some of his Tesla stock. Incidentally, Elon did sell quite a bit of his Tesla stock ($20 billion?) to fund his purchase of Twitter, and he paid billions in income tax on that.

Most large corporations do this for their executives, because the execs typically have stock options they can use for collateral and the companies typically have a large cash on hand balance available.

IdRatherBeDiving-vrgk
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This is exactly what “rich dad, poor dad” teaches.

Take on debt to make profits and with inflation your debt shrinks. Make debt your income cause it can’t be taxed and use that debt to purchase things that make a profit over time.

shannonm
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learned about this in a Realestate class. Tax codes benefit corporations not the the individual. The richest in the world own companies.

joecox
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The part they never explain, is how they pay back those loans without having actual money.
Because you can't use your loan to partially pay for your other loans, because theorically you will eventually hit a borrowing ceiling. Unless the rules don't matter at that point.

s.e.n
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My old boss gave me stock options instead of bonuses that were taxed at 20%. Those stocks split 3 times. That's a smart manager who cares about employees.

Cherie-kwkj
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The problem is at some point you have to realize the asset because that 5 percent is over and above what you borrowed so it has to be paid back from somewhere and when that happens it is subject to capital gains taxes

jacobblurton
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Steve Martin on SNL. “How to be a millionaire and never pay taxes”. First get a million dollars, then when you go to court for not paying tax just say “I forgot!”. Best advise ever 🤣

UseR-zx
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I tried this with my bank. Was told I needed more money before they could loan me anything worth their time

msaucedo
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In Australia it’s called Fringe Benefits Tax. It’s still taxable income

n
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I see the point on how I can use this by “giving value” for a benefit while avoiding the system.

Losart-zpfx