Secret hacks the top 1% use to pay less tax.
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Warren Buffet is widely regarded as the greatest investor the world has ever seen, and is currently sitting at number 5 on the Forbes rich list with a net worth of over $100 billion. You can only imagine the amount of money this man brings home every year. Now I want to ask you a question. Considering that the average single worker in the US pays close to 23% in tax every year, how much tax do you think Warren Buffet pays? 30%, 40%, 50%. No, he pays 1%...except he doesn’t, he actually pays 0.1%. That’s right. Buffet shocked the world and in the process angered social justice warriors when he announced that he was in fact paying less in taxes than his own secretary. That is, on a percentage basis at least. And this isn’t an anomaly amongst the world’s richest people. Jeff Bezos, founder of Amazon pays 0.98% in taxes, Mark Zuckerburg, founder of Meta pays 1.1%, Elon Musk, the richest man in the world, pays just 3.27% in tax, and then…there’s you.
You’re probably working a job right now. At the start of each year, your employer mails you your tax statement, and without question, you go through the motions of copying that information over to your 1099 tax form. You send it off to the government thinking, why is 28% of my income lost to taxes? Why do the rich pay so little tax? How are people making more money than me paying less tax? This isn’t fair. You come to the conclusion that the tax game is rigged. You have to be rich enough to hire worldclass accountants to save money on taxes. There is no way a normal person like myself can reduce their tax liability.
But what if I told you, you were wrong? There are ways that you can pay less tax and save more money each year, all within the legal confines of the tax code. Today I’m revealing the legal tax secrets the wealthy commonly use to reduce their tax burden, and by the end of the video, you’ll know how to do the same.
Topics Covered:
Personal finance, how to save money, how to build wealth, how to make money, entrepreneurship, financial freedom, investing for beginners, taxes explained, how to legally avoid taxes, tax hacks, how to get rich, how to minimize taxes, tax writeoffs, taxes 2023, tax advice.
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Everything in this video is of my own opinion and could be wrong. I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.