Unveiling Secrets: How the Ultra-Wealthy Pay NO Taxes!

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In this eye-opening video, we delve into the world of the ultra-wealthy and their astonishing ability to pay little to no taxes! Discover the legal strategies and controversial loopholes used by businesses and wealthy individuals to avoid hefty tax bills while staying incredibly rich. We clarify the distinction between tax avoidance and tax evasion to shed light on how these tactics are within the bounds of the law.

Join us as we explore fascinating methods like the "double Irish arrangement," where companies move profits from high-tax countries to subsidiaries in low-tax countries by purchasing their own intellectual property. We also uncover the power of depreciation, where companies spread asset costs over time to reduce taxes.

Learn about stock options, research and development tax credits, debt financing, using losses to offset income, and accelerated depreciation—these are just a few of the clever techniques employed by the wealthy to slash their tax liabilities.

Disclaimer: This video does not provide financial, legal, or tax advice. Always consult professionals in these fields for personalized guidance. Sit back, prepare to be amazed, and don't forget to hit that like button and share this eye-opening content with your friends. Subscribe to our channel for more intriguing insights into the corporate world.

Special thanks to our sponsor, Ekster Wallet, for their support. Check out their sleek wallets with advanced features like RFID blocking and air tag tracking—perfect for protecting your valuables. Stay informed, stay empowered, and get ready to uncover the secrets of tax avoidance!

[PunknDestroy]

My sister's boyfriend is an accountant and they've told me in the past that the only difference between tax avoidance and evasion is the lawyer you can afford.

[alissonfrangullys]

One of the reasons companies are demanding employees to go back to work it is because if the asset depreciation. If nobody is going into the office anymore, they can't claim that depreciation since nobody is using their stuff.

Which end being an L for the employees and a W for the companies

[nasis]

When you have the wealthy basically writing the tax laws, this is inevitable. A lot of corporate executives also never sell their stocks. They take a loan out and use their stock as collateral. The interest rate on the loan is way lower than the capital gains tax. Never paying any tax their stocks.

[daveblackman]

They always will go after us little people. While businesses and CEOs have the system designed to keep money in their pockets. This nation is just a corporation, and we’re the plebs. Taxes just get higher each year for us

[mlmr]

Another way to do tax avoidance is by making people donate. For example, a well-known retail store in my country always asks you to donate 10 to 30 cents to their (casually) charitable foundation. When they raise enough money, they will donate as if it is their money, then gain significant tax avoidance. The lesson here is not to contribute to the charity through another company. It is better to look greedy than to give money to dishonest people.

[flubby]

100% charitable donations are tax avoidance by corporations. This is why a lot of corporations have charities or non-profits established like in the recent case of REI's founder's stock sale. Once the corporation makes the charitable gift it can claim the tax benefit yet they can use that money to pay their family members under said charity. And since those charitable dollars are post-taxed, salaries paid to family members can be 100% not taxed as a part of their overall income. So you make a donation to a charity then turn around and pay your wife a huge salary that you don't even have to pay taxes on. It is super common in the business world and 100% why I refuse to donate a single cent to any corporation soliciting donations from their customers.

[RunnerNinja]

This is totally off-topic, but that shot of your dog in the background is adorable! I have a white husky-greyhound mix, and she looks so much like your pooch (just with a bit less hair).

[kr]

I'm glad people like Joshua exist. I feel like I'm not the only one that has these opinions and criticism about the fake corporate world. I like his no BS mentality and approach. Btw Your tip about gap on cv helped me land a job. As you said, life happens to you but people don't care. Keep it up brother.

[cynicmadden]

I love this channel. I remember the first video I watched of yours years ago about an employee being insulted by his manager. I felt then that this channel was special and it should be boosted as much as possible. Thank you for doing what you do sir!

[tlanderso]

The big tax loopholes are having an office that workers have to go into. The building can be appraised based on a fictional replacement cost index and depreciated against income while the building goes up in price due to bank credit speculation on real estate and sold for a capital gain that can be rolled into more real estate tax free. Another loophole his the tax right off of interest expense. Banks product is debt and they have lobbied for the favorable tax treatment of new bank credit creation by loaning it into existence via debt. This favors debt financing over equity financing due to its tax treatment. Another loophole is transfer pricing. Oil companies realize gains in oil price in jurisdictions that don't tax income like Panama and Liberia, so they register their oil tankers their and realize gains in oil price in transportation and don't make a profit in refining oil into gasoline, so they don't pay tax. The other thing you can do like Alcoa is setup a plant in Iceland and borrow money from your subsidiary in the Cayman Islands and the interest you pay to your subsidiary in the Cayman Island you use to write off all your income in Iceland, paying no tax.

[fettel]

And this is why I laugh uncontrollably whenever sheep are convinced some new law will finally make the rich "pay their fair share". Because it's been long understood there are loopholes, and the law never targets those. Because it's written BY the people using them.

[PepeToTheMooon]

A “necessary” expense LOL that says it all

[daybreakgray]

my mom was punished by taxes as a freelancer, and by insurance, $1000 in insurance premiums. all because she didnt work for corporate

[wimeatsworld]

I thought the fast & loose was how "legal" the expense is, but it might be how full your hand is when the politician shakes it.

[tonimojo]

You always spittin facts my guy. Right on ✌️

[Phantom]

haha, hey Josh you missed a pretty major one, although not the business themselves, but these CEOs that do the 1$/year income and get all their funding in stock options that are only taxed when sold usually in the meantime for personal expenses get an Equity Line Of Credit against the stocks they own, so they can borrow against those stocks to fund everyday life and write off the interest. As long as those stocks appreciate faster than they borrow, they will never run out of money, and you don't pay taxes on debt, and never have to sell those stocks until you die potentially.

[Sirithil]

Any chance of a follow up video covering how The Rest Of Us could use some of these?

[DamienGolding]

Regarding depreciation. The key point is that it has been recently commonly used to reduce taxes or even get tax refunds by using it with old items that have not gone done in value. Examples include houses and antique cars.

[HectorDeJesus]

I honestly never even thought about tracking pets with AirTags.

[ennuiblue]

I always wanted to learn more about this, there's a reason they want most people to live paycheck to paycheck, while they only accumulate