15 Ways Rich People AVOID Paying Taxes

[@rajasekharbasani9579]

1. Reinvestment of profit earned 2. Deduction of expenses 3. Move somewhere with no or little tax - Tax heavens 4. Send it overseas - Profit shifting - company in another country 5. Charitable donations 6. Equity instead of Salary - Elon Musk - Tesla 7. Buying an art - appreciation 8. Multiple nationalities with no fixed residence 9. Gift 10. Hold it in privacy coins - Bitcoins - Unregulated 11. Don't draw cash from assets 12. Filing for bankruptcy 13. Yacht as second home 14. Trust to escape estate tax 15. Depreciating assets

[@krishnavamsi820]

looking for a comment like this thank you so much❤️

[@larhondavattikuti7867]

I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings, what do you think I should be buying?

[@cruzmagliulo6367]

@@larhondavattikuti7867 crypto investment, but you will need a professional guide on that

[@itoborewealth7836]

Most people venture into investments to be a millionaire meanwhile I just want to be debt Free

[@glendorabeavers5922]

I'm new to Bitcoin investment, how do I get started with a professional?

[@Benjaminarmstrong684]

Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?

[@Justinfred11]

There’s more benefit to holding fixed-income assets in tax-deferred retirement accounts as opposed to taxable accounts. If you're not who understands strategies to invest in the market, seek a Financial advisor to guide you.

[@Joegolberg1]

Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.

[@Benjaminarmstrong684]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@Joegolberg1]

GREGORY LEO CATTEL is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.

[@Benjaminarmstrong684]

he appears to be well-educated and well-read. I ran a Google search for his name and came across his website; thank you for sharing.

[@ashleyharris3385]

As a CPA who specializes in tax this video triggered me. If you try half of these the IRS will come looking for you. Rich people don’t pay as much in tax as regular people because of safe harbor rules. The US doesn’t care where you make your money, there’s a worldwide tax and if you denounce your citizenship you have to pay taxes on everything you have before they let you leave. Not to mention estates, gifts, and trusts are taxed separately from federal income tax. Half of these “methods” are subject to AGI limitations. And the other half have different tax rules than GAAP rules.

[@jag5798]

I was told by an investor 30 years ago - “There are two types of taxes” “The informed and the uninformed”

[@Zoneforpreneurs]

Upgrade

[@klytouch5285]

Hahahahaha 🤣😂😅

[@anastasiatempest2372]

Upgrade!!❤️🧑🏻‍🦼

[@Freespiritedqueen]

1776

[@toothybj]

@@platinumsky845 or wealthy enough to have tax shelter options available to you, or affording the best tax attorney.

[@latishacampbell5764]

I pay 22% in taxes, living in the US. Im not a business owner yet but still find this video incredibly valuable.

[@John2r1]

And to think there are mcdonalds workers demanding 15 dollars an hour which moves them from paying 10 to 12% taxes to paying 22%of their income in taxes. And I bet none of them are educated enough to take advantage of tax deductibles.

[@two7plumbing]

@@John2r1 that’s not exactly how tax brackets work. You only pay the higher percentage on the remainder of income after the lower tax bracket. It’s a tiered/stepping stone bracket system, not a “all in on this bracket” type system.

[@John2r1]

@@two7plumbing thing is if you don't have any profits there's nothing to be to pay taxes on. You can't get 22% tax from 0% income. Which is what profit is when you own a business. If you don't take an actual paycheck and instead take equality out and use all company assets to run your company. Which only requires you to be able to say you use the asset to go to meeting's or whatever events required to run your company. Then you don't technically own anything your using and you don't have a taxable income as an individual. Your company still has to pay corporate taxes but you pass those cost on to the price of the product your company makes. Ergo your not paying taxes out of your own pocket. It's the same with debts due to buying property if you buy a house then rent that house out. Your not paying your money to the bank your taking money from someone else to pay the bank. All extra money is profit to most people. But its really an asset to invest. So if on paper your not taking a paycheck and you don't personally own anything as an individual your not personally paying taxes. The US Tax code treats the Company and the Individual who owns it as separate entities. People like Donald Trump don't directly own anything their companies own it. They just use company assets. That's how the rich personally get around taxes while their companies pass the tax on to consumers. It cost Nike about 20¢ an hour to produce their shoes in their Vietnamese factories. The cost to the consumer here in the US per pair of shoes is between 25 to over 150 dollars depending on the shoes. The reason why taxes . It's a dog eat dog world. And the rich figured out how to get around the system.

[@two7plumbing]

@@John2r1 I agree completely. My comment was simply aiming to clear up the tax bracket situation as you seemed to be suggesting that McDonald employees who earn a higher wage are not in a better situation due to the higher tax percentage they’ll have to pay.

[@stevenporter863]

@@John2r1 That is just one reason upping the minimum wage is a political buzz word. The technicality of the tax system not withstanding, your point is valid.

[@kashyapbarua7578]

As Robert Kiyosaki put it, schooling systems have been built to keep the poor poor. Never in your schooling time will they ever teach you finance or atleast the basics of it.

[@Karzacan]

Yeah. That is a nice narrative when you sell books...

[@kashyapbarua7578]

@@Karzacan Might be a nice narrative for selling, but it's true. Just think of it. An important subject like personal finance and money management, why have you not got that till your higher secondary education?

[@angelsantiago.1805]

And its so much more levels to finances that we have yet to reach!

[@kashyapbarua7578]

@@angelsantiago.1805 Correct! It's way convenient to self develop on these subjects with internet around. Haha

[@johnpark7972]

True, school teaches you how to be a worker and another part of the machine. School doesn’t teach you about money at all. The rich just know this secret they never tell you at school.

[@adipratapsinghaps]

The art buying technique, passing properties to trust technique, and filing for bankruptcy technique are pure gems.

[@alux]

We just saved you millions of dollars.

[@hmadnan01]

@@alux Thanks to Alux. These are high level tech games only rich play with but now we have learnt these. 🙂

[@stevenporter863]

Why pure gems? You have an extra $5,000,000 for art?

[@ankitaverma5096]

@@stevenporter863 create your own painting

[@stevenporter863]

@@ankitaverma5096 You think its realistic to paint something and its worth millions instantly?

[@christianlis7395]

Honestly, I´ve learned in this video more about taxes than my whole life in school.

[@EverythingsByDesign]

Fuck school. Not really, but kinda

[@msohsosolo]

Same here!👈🏾💯

[@lifeisabadjoke5750]

@Bee Dee realist comment ever

[@johnnie9485]

BLOCK CHAIN😊.

[@laayen158]

Schools teach you how to calculate taxes

[@jessicabixler1658]

You forgot stepped up value. When a person dies their inheritors can sell their assets like stocks and real estate and they only pay taxes on any increase in value since the death of the owner not from the time he purchases it: Dad buys stock at 100 bucks. At Dads death is is worth a million. Son inherits it and sells it for 1millon and 10 dollars. He pays tax on only the 10 dollars...

[@tajunicholasjr587]

Wow

[@Alexander5400sonne]

Incredible tax lobby…

[@Momoko4ever1]

I don’t understand… how does he only pay 10 bucks in tax?

[@the_expidition427]

@@Momoko4ever1 The counter essentially resets for long term capital gains

[@xvesthemess3602]

@@Momoko4ever1it’s like this. If the father took out the money they would have charged him a considerable amount but when he died all those taxes were waived from his time of death. So it’s like he bought it a 1 million and if the shares increased by 10 dollars since the time of death. Then the son only gets charged on those 10 dollars.

[@timothytheyknow1278]

What I've gotten from this video, "Open up a business as fast as you can."

[@tajunicholasjr587]

And being self employed you can save and pay only 10% taxes!!!! I thought that was so crazy. That's what lead me to this video

[@Freespiritedqueen]

YES SIR, that's what I understood! 1776 Taxation without representation. I tell people about being your own boss aka self-employment aka entrepreneur.

[@nelliel8251]

Not quite. "Create legal corporations to run your businesses through as fast as you can." Is more like it. Multiple LLCs or C-Corps owned by an S-Corp seems to be a decent start.

[@GoldennMoments]

Periodttttt ❗

[@Eric_Davis]

​@@nelliel8251s-corp only if you have >100 employees as it's taxed twice. Both corporate and income

[@colinwattonville3744]

The art loopholes blew my mind. Makes so much sense now why wealthy people purchase art!

[@timothytheyknow1278]

Also the creation of Charity Foundations, it's just mind blowing.

[@honestfriend767]

Do not trust @@user-xg8ep2hm5e

[@YoshiBugatti]

I remember Dave Choe talking about this and never got why until now.

[@matiqueedwards2269]

@@timothytheyknow1278 at least the charity foundations actually help pp

[@hikswim500]

A lot of what she said was inaccurate. Art is a business expense that isn't actually deductible.

[@romelindareyes7337]

Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for.

[@kelvinl.3875]

Very true

[@kelvinl.3875]

"A great work demands a great sacrifice and who is not capable of a great sacrifice is not capable of a great work"

[@benildabituin1531]

Speaking of investment, I have been finding a tough time deciding between mutual funds, real estate, and crypto investment, anyone with ideas to help me with?

[@colegaligger7072]

@@benildabituin1531 I'm into real estate investing.

[@colegaligger7072]

Real estate lets people grow their net worth by amassing more and more properties. Its a good long term investment idea due to appreciation.

[@donovanmic]

Remember that this video is based on US tax law. If you’re not an American the specifics may not apply (for example, tax exemption for capital gains reinvested in the business). However the basic idea of structuring your affairs to take advantage of the tax laws of your own jurisdiction is good and it is worth investigating whether a specific technique would work in your country.

[@fernandogil65]

My accounting teacher said once: “If in 5 or 10 years I hear that any of you is paying taxes, I’m gonna break into your house, take your diploma, shred it, and sell it as hamsters bedding” 👍🏽

[@DoFeedThePigeons]

Then your criminals

[@skippy31415979]

@@DoFeedThePigeons How cute. Totally indoctrinated.

[@blueeyedpunk]

I'm guessing only people with a certain amount of money can really utilize those things

[@toomanysecrets7121]

@@DoFeedThePigeons taxation is theft! Taking something you have earned and have it removed from you is stealing

[@kingyoung5228]

@@blueeyedpunk not necessarily especially if you’re 1099

[@willardharper8038]

I almost burned my account trying to use complicated scalping strategies. with this one I am halfway in regaining my lost capital. can this strategy be used in direct execution order or only in buy/sell stops? I need advise. thanks.

[@grovelucas930]

learn to get the full knowledge first before investing or get an expert to handle it for you

[@grovelucas930]

There will always be market fluctuations, you just have to be prepared for it.

[@grovelucas930]

I'm not good doing it alone but getting into the market has been my best decision so far in my road to financial independence as it turns out lucrative for me.

[@averystevens1880]

Exactly.....nice words. I agree with you

[@averystevens1880]

My utmost goal is $3million and a few passive income sources for sustainability.

[@thinkbooth]

For anyone seeing this, I believe you can achieve your goals, all you have to do is to NEVER GIVE UP. I also believe that you will be among the rich people Alux is talking about

[@alux]

We see you :)

[@darkcyborgsuperman9521]

I plan to, if I don't die at least a millionaire than that means I've disappointed ALUX.😆

[@loftsatsympaticodotc]

- @@darkcyborgsuperman9521 I am already a millionaire, and also almost 80. So if you have bad health or are handicapped or lack observational powers or have dozens of financial problems, the increase in wealth is WORTHLESS. All you 'wannabe rich" people here are ... I guess the word is "foolish". You buy on credit! (WRONG) and wind up paying 24% INCREASE of the price. You bu new instead of used. You buy into scams, instead of research. You want to '" do nothing- yet get rich". Why? You buy lotto tickets! Work your butt off like I did for 25 first years- earning LESS than welfare! Meanwhile partners rip you off, employees steal your business, customers file bankruptcy, rather then pay for goods bought, equipment outright stolen. Government refuses legit expenses. Meanwhile burglar alarms are ringing every few days, (or hours). You suffer break-ins, all kinds of vandalism, car set on fire and containers set on fire, (we had people arrested for theft) etc. work until after midnight, 16+ hours... NOT fun. Sometimes I wish I had been on welfare ;-)

[@wandasanchez551]

I’m not a business owner yet, but it’s definitely a goal. In the US my Federal tax rate is 22% and my California State tax is 9.30%. I’m looking to move out of the state and possibly out of the country. The information you provide invaluable.

[@Gothiqueluv]

Washington State does not have any income tax! But they do have taxes on capitol gains, so keep that in mind. ;-)

[@carlhsieh2615]

This may not work for the US citizen, IRS chases you around the world

[@brycegum_221]

Good luck finding as much financial opportunity as the US in some other country. However, as a resident of California, I don’t exactly blame you for wanting to move to a different state, our tax rates are sort’ve crazy here.

[@RedPepper063]

You might like the Nomad Capitalist channel

[@wandasanchez551]

@@RedPepper063 yes. I I’m subscribed to his channel

[@joinertia2080]

This video made me have an epiphany of my life an family all this time the video made realize that we don't have any structure, corporations, credit, assets , real estate to pass on ....better yet structured under a corporation for tax benefits...no paper assets or liquid assets...All this time I could have started with my credit built it up etc then went to business credit an built it up....educated myself hang around smart people , learn business basically an my life would have been in a different lane than the one it's in now...I understand now!!! I really do.....This has been the most eye opening video for me...Thank You so much....Please!!! make another one like this one very inspiring!!!!!!!!!!!!!!

[@IIIIlllIIIIllllII]

Sweden, I work as a Sr. Engineer (12+ yrs exp), make about $600k -kr ($72k USD), for a large multinational, and I pay 31% of income in taxes, I take home $414k ($49.7k). I live cheaply, but I'll never be able to buy a house, rent is 12k-13k -kr. ($1.5k) for a 1bd apt, I can't afford a car, since they cost about 8,300 kr/mo ($1k usd), gas is about 15kr per liter ($7US/gallon), my monthly expenses are about $25-30k kr/mo ($3,200-3,600/mo). Again, I make more than my peers, and live frugally. I don't know how others can make it without help.

[@patilabhinav7941]

Try to get Saint Kitts citizenship

[@TheRonellCross]

Create an info product that teaches aspiring engineers how to pass a specific engineering test/certification, or, get a promotion. This can be in the form of an ebook, video course, and or, monthly subscription. You could even build a media brand if you're comfortable creating content. It's a great semi-passive revenue stream, it's borderline infinitely scalable, and you obviously have the skill and expertise to make it happen.

[@TheRonellCross]

I'm pretty sure there is some software(s) that you excel at that you can train others how to use, that would help them be more valuable at their jobs.

[@Shapar95]

@@TheRonellCross thanks for completely irrelevant useless advice. As if you know he passed some exam that isn’t just inherently receiving a degree is all he did. The what should he do? Rewrite a college curriculum… that sounds like a productive use of his time.

[@phyllisgatitu8479]

That's why they say invest in stocks , hedge funds and many

[@CaseyBurnsInvesting]

The tax laws apply equally to all people, the rich are just playing the game better.

[@Historyoflostreligions]

Earned my subscription

[@dgjFOURlife]

Well said

[@GeneralTarge]

The rich or the smart?

[@harshtapkire]

We can do that too..

[@Me-MyArmy]

Exactly!

[@amboliamboli2251]

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you, prevent inflatio

[@joshuamichael1032]

What are you talking about and how could this be explain?

[@amboliamboli2251]

He's the man have been trading my coins with for the pass few months I started with him this year

[@james.chitmon2503]

Speaking of being successful. I know I am blessed if not I won't have met someone who's as spectacular as Josh...

[@davemorris5381]

Yes I am a living testimony of Mr. Josh Mr. Josh has changed my financial status for the best. all thanks to my aunty who introduced me to her last year

[@sandradave9587]

I have also expirence his great work he's good in trading

[@pranavp.8397]

Alux, why are you the only YT channel that teaches so much valueable information?

[@alux]

Because we're the only one to talk based on experience..

[@duduzilemthembu8938]

@Alux.com it's hard to be humble. 😂

[@alux]

@@duduzilemthembu8938 We're not in the business of being humble.

[@miltonmaj]

@@alux Indeed! You speak real facts. The contents are genuine and worthy to practice.

[@yvonnekavithe6247]

whenever I see Alux's comments I hear the alux lady voice... it's so weird

[@melvinmungai1062]

🇰🇪.. 25 - 30% Employment Tax In Kenya. 30 - 37% Business Tax after deductibles. However, income from Foreign Investments is untaxed, hence the rich from outside Love Kenya for their secondary or holiday homes.

[@alux]

Interesting...

[@agnum639]

@Melvin Usisahau VAT is at 13.32%

[@yvonnekavithe6247]

bana, they shulda expounded more on tax in high school, sa izi ndo?

[@JW-cx8tg]

Income taxes are designed for the middle class. The poor don’t pay anything since they get so many government handouts and get tax returns. And the richest pays the lowest percentage in taxes relative to their income.

[@roxysparks5003]

The poor still pay in social security, etc. you also have to be poor enough. I wasn’t getting any government handouts when I made $15k.

[@shreemontichatterjee978]

Hey what are you guys ?? Mind readers ?? I was looking like crazy for something like this. The best as usual. Thank youuu

[@alux]

That's our magic sauce! We know what you need!

[@mramericana1629]

Hey Alux, Can you do a video on how to become an actor

[@alux]

@@mramericana1629 Unfortunately, it's outside of our area of expertise. Learn that from actors & learn money from us.

[@nancyharvey2729]

When it comes to the world of investing,most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance.

[@williamcrawford388]

You're right

[@williamcrawford388]

That is why I had to start forex trading 2months ago and l now am making benefits from it.

[@rebeccagilbert7691]

O' Yes I'm a living testimony of Mrs Alejandro Victoria.

[@rebeccagilbert7691]

Mrs Victoria has changed my financial status for the best

[@rebeccagilbert7691]

All thanks to my aunty who introduced her to me.

[@tarrelwint8731]

My mentor said if you have to worry about taxes you’re not making enough money.

[@tarrelwint8731]

@@devmaycry4703 Well I rather bet my money on what he thinks than what you think…. Unless you’re worth more than half a billion..

[@Jimsac8]

I have to disagree with you on one thing in this video. When it comes to maxing out contributions to a retirement account, you did not mention if it's a pre-taxed contributions or after tax contributions. I contribute to both a pre-taxed and Roth retirement accounts. As you already know, no one pays taxes with a pre-taxed retirement account and the money grows tax free. However, the money is taxed as ordinary income in retirement. With a Roth retirement account, the tax on the contributions are paid up front but the money grows tax free and is also withdrawn tax free in retirement. Both of my retirement accounts are well managed by me. Other than that, this video is very informative and shows how people can use the tax system to their advantage regardless of their wealth level.

[@quindcatherine4794]

ARE YOU TIRED OF BEING POOR ALL THE DAYS OF YOUR LIFE, THEN REACH RAUL TO HELP YOU OUT OF YOUR FINANCIAL PROBLEM NO MATTER WHERE YOU ARE IN THE WORLD!

[@bakulubakulu3891]

Poor people don't pay taxes, poor people are extorted for their hard earned money !

[@americafreedom7160]

Well said.

[@168hugo]

GST goods and services tax poor people also pays them

[@cia3653]

Bullshit everyone pays tax even the rich

[@the_expidition427]

@@cia3653 In a much more roundabout way

[@addictedtominisandlovingit3912]

Poor people get refunds for more than they paid in. Keep pretending though

[@nadhirhajji8684]

I really want a video about multiple passports and how the Rich travel across the world visa free and the easiest passports to take that is the best to travel please Alux

[@nicoleq8461]

go to the channel nomad capitalist, its a gem for these kind of things

[@nadhirhajji8684]

@@nicoleq8461 thanks bro

[@natnat8254]

@@nicoleq8461 I find he babbles on alot and the info is more for the wealthy

[@viewmodeimages]

I have a New Zealand passport and a British passport. I can travel anywhere 👍🏻

[@The88lightangel]

You can find all relevant info at 'Nomad Capitalist'.....'youtube channel'.....great info

[@joelalbert890]

Just Two words to describe this channel:GOLD MINE!

[@alux]

Indeed Joel! Not that many people realise just how valuable everything here is.

[@laurel1865]

Trump ….. this is called creative accounting and you will get caught if you get stuck in a large audit

[@loftsatsympaticodotc]

@@laurel1865 May he go to tax hell !!, then jail

[@michaelfordham3968]

WHO SHOULD I THANK IF NOT FOR RAUL THAT FIXED MY CREDIT, I WAS SO SAD AND UNHAPPY HAVING 430 FEW WEEKS BUT I'M PROUD TO HAVE 810 TODAY THANKS

[@michaelfordham3968]

TO REACH RAUL KINDLY VISIT

[@michaelfordham3968]

V!S!T HACKBYWORLD⓪COM

[@michaelfordham3968]

ORTXT+1

[@michaelfordham3968]

662314

[@michaelfordham3968]

7163

[@DieStimmung]

wow i just got my 38k unemployment benefit through the help of raul! i am so glad!

[@SamDeanismyname]

Major caveat to a couple of these…. If you’re a US citizen you’re taxed globally. You could spend ~30 days in 12 different countries and Uncle Sam is still coming for their taxes. You can renounce your citizenship but there’s definitely an exit tax on that. This is a lot more complicated than the video implies as well as a couple other things. With that being said, it’s correct in most ways.

[@emilygeorge4043]

Making money is the plan and with Bitcoin Investment your Plans can be fulfilled.

[@karolyiistvan3731]

Good knowledge about forex trade is a key to a profitable and a successful Investments. I can unequivocally say that forex trade is one of the most profitable and lucrative business for every investors with the right expert.

[@emmanuelbrown9906]

*Investing in bitcoin would be the wisest thing to do especially with It's current price.*

[@rufai.abdulazizkatanga8586]

@Tesei Jessica *that's true, a lot of people today have been having a ton of disappointments in forex and crypto trading in light of helpless decisions awful specialists.*

[@geraldmartin3347]

Actually you got a good fact, but am so much in need of an expert that can help me handle my account.

[@pukhtanajelay3176]

@@geraldmartin3347 there are lots of good experts out there but most offer little ROI's. I will advise trading with Mr Nicholas Burke-Gaffney's team as I make over $35,000 on average per month from their trading bots.

[@walterberrios6333]

Thank you 🙏 Alux for this amazing information! I’m so happy that I’m already doing one of the things you have mentioned. I have started my LLC early in May of this year and I’m based as a home business. I’ll be taking a lot of deductions at the end of the year. I’m very excited. I wish only success for everyone on this channel.

[@krishnaraoragavendran7592]

Yes tjats what Robert Kiowsaki used to tell. "The rich don't pay taxes, they take debts instead. Others do the reverse".

[@tiojiukiakakinang]

Pardon me for correcting, it’s Robert Kiyosaki.

[@murattaykutarmutcu5749]

DO YOU KNOW WITH A GOOD CREDIT YOU CAN DRIVE A CAR OF YOUR CHOICE? DO YOU KNOW THAT WITH A GOOD CREDIT YOU CAN OWN MANY BUSINESSES SO WHAT ARE YOU WAITING FOR? GET YOUR CREDIT FIXED NOW FROM RAUL! TIME WAIT FOR NO ONE

[@yusufibrahim7233]

I am new to cryptocurrencies such as bitcoin, but I am very interested and curious to start investing in it, although I do feel this is kind of late now. Can anyone tell me what I need to do?

[@AbubakaCalo]

Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.

[@AbubakaCalo]

Crypto is the future and investing in it is a good idea

[@AbubakaCalo]

Bitcoin is the future

[@AbubakaCalo]

@Noemie Lemasson A friend that I referred to him just received 45,000USD last week I became so jealous

[@lvega5606]

I'm in finance and my wealthy clients pay, on average, 40% income tax (fed + state). And they're in high finance, themselves, and have accountants do their taxes. So not all rich people pay low taxes.

[@Kakashi_hatake1334]

do they live in the us? are they employess , self employed or business owners?

[@schoolofrandomthings]

Yes, I think this is why so many people in the US think that the rich don't pay their fair share. On average the rich pay 27% in taxes while the working poor pay 4%. But because taxes are confusing and most don't understand how it works, plus it doesn't help when you hear Warren Buffett make comments about he pays less in taxes than his secretary. All this becomes very confusing and it's no wonder why Americans are angry towards the rich. This is why financial education and understanding taxes should be taught in high schools.

[@ANonyMouse627]

@@schoolofrandomthings Yes the rich ($300k-500k) shoulder the highest tax burden, especially those who earn money from work income. But once you reach $15million and higher mark, you can shield most of your money from being taxed.

[@mild4684]

That's because they don't know how to use the laws to their advantage. Also they should get new tax professionals.

[@bigvalley4987]

@@ANonyMouse627 As long as the USA business is a capitalistic society. The rich will prosper ☑️

[@rogerrodriguez2381]

I refused to work anymore overtime in excess of 10 hours due to the fact they tax so much nearly half of it is gone. Instead I just cover shifts which aren’t taxed the same at my job.

[@sonny9054]

Currently paying 50% just on income tax. On top of that, mandatory social security costs amount to around 10%. From Japan.

[@scottnglsh]

Reinvested profit IS taxed. Growth on corporate investments is considered revenue.

[@priyankpatel4029]

yess....!!!!

[@TrueUnderDawgGaming]

Middle class has it the hardest. I knew plenty of broke friends who NEVER paid their taxes because the government would get almost nothing out of them anyway. Then I have friends who make six-figures and have to give over 10k each year in taxes. Only the absolute wealthiest or poorest avoid paying taxes. I think the actual stat is the top 1% pay for 50% of the taxes or something crazy like that

[@mauricio9564]

Its closer to 30%-40% which is proportional to their share of national wealth.

[@robertryan627]

It’s more and has nothing to do with national wealth whatever that is.

[@TrueUnderDawgGaming]

@@mauricio9564 I am not sure what you mean by "Share of wealth" because that implies the money was just donated to them which it was not. They earned the money by selling products or services that people willingly wanted to buy. No matter how you look at it, the government taking 50% of the money you earned is messed up. It does not even go back to the people who bought the products. It just goes straight to government who spends it on other things that may not even benefit most people.

[@peterfallon4018]

Top 1% pay 53% of *federal* tax; bottom 51% pay *0; somehow the rich aren’t paying their ‘fair share’. MOREOVER 82% are 1st generation sole-proprietors who lived on hot dogs & ramen noodles for YEARS (as Elon Musk, Bill Gates, too many successful people to mention) w/o any guarantee they’d earn a nickel yet those w/ cushy near- guaranteed jobs do d!ck& refuse to realize their own lazy, self-entitled ass.. f ‘em

[@jackeyer3208]

About 80% of ALL income taxes are paid by top 5% Earners. And now we want to Tax them More. People who earn 40k or less per year are considered Poverty Zone and PAY NO TAX which seems unknown by Americans.

[@johnkh2576]

Countries that I live; in Turkey ; Income tax %20 once a year, VAT is %18 on construction materials. In Kazakhstan; %20 and %12 accordingly.

[@forevershoppers]

yeminlen ya.

[@geoffreycharles6330]

Income tax in Bulgaria is 10% flat.

[@nadineahlers2164]

Sadly, in South Africa we have donation tax and we have such severe tax laws that don't allow you to deduct certain expenses and the property you use to live in for free provided by your employer also gets taxed. Additionally, we have dual taxation. :(

[@nadineahlers2164]

@@uchihamadara7386 you have a great point.

[@nadineahlers2164]

@@uchihamadara7386 @DiamondGamer 101 indeed that is the plan, I've also come across Tom Wheelwright, he has some tips regarding this, and it probably works. However, I must add that SA does seem to make everything much harder 😅. Do you live in a low-taxed country?

[@williamj.dovejr.8613]

Run for office as the anti dual taxation candidate... you'll win.

[@weareomegapro889]

"A fine is a tax for wrong, tax is a fine for doing right" Eye-opening.

[@bfun4615]

I LOVED this video. I moved jurisdictions because of taxes and I'm a "little guy." But compound that over a lifetime and it adds up.

[@alux]

Yep. It's was a smart move to make.

[@bobkanorange1847]

Good move. A successful person once told me "unless you win the lottery its about lots of baby steps"

[@monikabennett]

What jurisdiction, if you don't mind sharing

[@NinjaGuidesHQ]

And this what the school never teaches you...

[@johnstrato9795]

By intent.

[@createwithpete494]

Taxes are for the poor. And so is the LAW.😮

[@samanthaesteraherrera4847]

At the end of the day it boils down to having a side source of income especially in stocks, crypto, NFTs and digital assets.I dont think you can evade tax completely but you can prepare your self to bear the brunt.

[@yourtourguide2807]

@Daanish Bridges Crypto, inflation hedge bonds, NFTs , ETH. These are the future.Go all in.

[@levisonbevan9512]

@@yourtourguide2807 Its funny you mentioned Crypto. BTC just took the dip, Are you suggesting I should buy the dip?

[@barnabydonovan784]

@@levisonbevan9512 Its obvious that you are a rookie, Every expert knows that after the dip comes the surge.

[@m.r.e.stussy157]

@Bark-shin mii I suggest you get in touch with Kimberly Anne Ritchey. She is quite efficient and certified in 30 states in the USA

[@cybercomets7260]

scammers pile of **** all of your accounts have a one thing in common almost all of your accounts have the same almost exact dates

[@alux]

Hello Aluxers! This is how the rich pay as little taxes as possible! Mind Mastery: courses.alux.com/courses/meditation Bitcoin Essentials: courses.alux.com/courses/bitcoin Use promo code ALUXER for 25% OFF at checkout!

[@MrShanku691]

Howz my comment there before you??🤣🤣🤣🤣🤣..stay safe Alux

[@bookworld5299]

Can you make a video on how to achieve financial freedom. Please it's a request

[@andrefecteau]

yeah so all you democrats out there? learn, "tax the rich" means "tax the worker"...that's why when you hear "raise taxes from Bozos like Bezos" you know they are screwing you. Also the rich have teams of lawyers and accountants...

[@Manuel-gu9ls]

“ I never see you in the party, Me: I never see you in the bank 🏦...” UPGRADE

[@kimoramicheal8353]

#UPGRADE!

[@zakariatartibian6033]

I'm a global dominist and I pay 0% taxes yearly. It's a game and you've got to play it right.

[@howellwong11]

Leona Helmsley will forever be remembered by "Only little people pay taxes".

[@jlkkauffman7942]

Than why does the top 1 percent pay 40%of all federal income taxes in the u.s.

[@waterheaterservices]

@@jlkkauffman7942 Please do not annoy us with facts

[@splint3048]

@@jlkkauffman7942 It's the top 0.1% or less that have the resources to exploit tax loopholes to maximum effect. The top 1% is made up largely of people quite well off but not super rich.

[@tonyc2761]

As long as we can live in a society that is well protected from the taliban, drug smugglers, third world countries and their dictators and strongmen thugs, our own home-grown neo-nazi groups, corrupt government officials, unabated disease spread, and other irritations that plague our daily lives, we will be okay. I love these ALUX videos. They truly make me feel better and more optimistic.

[@456MrPeople]

You forgot the biggest thugs in the world. Corporations.

[@Anonymous-kt1ki]

It’s the western politicians who supports those dictators and Terrorists.If you don’t want third world people in your country,then ask your leader to help those countries tackle their problems

[@Musiclovers-gl8ut]

Couple clarifications plz 1.Taking bank loan does not waive taxes. You pay back bank loans with tax paid money. Loan is not an expense. 2. You do not have to reinvest money to save taxes. You have to pay corporate taxes on profit and then can reinvest it. However, tax paid income could be kept as cash asset in a corporation. You pay personal taxes only when you pay yourself salary or dividend.

[@cosmiceye2067]

The last point is everything. Government spending accountability is abysmal in most countries.

[@aadarshktofficial]

Removing middlemen will solve all problems I think.

[@johnstrato9795]

There is NO Government spending accountability... Cannot let the plebs know how they waste money.

[@Shreyansh147]

I still don't understand how people who get paid in equity , pay there day-to-day expenses, like electricity bill, or buying a doughnut , or filling the gas tank of their car . Can someone please explain ?

[@narutohenaruto]

Well they get a salary or they can sell off a portion of those shares and pay for everything

[@kaylaconklin3927]

They either sell of some of that equity or the have real estate and get money that way hope this helps

[@saadbhullah1195]

it is all paid by the company they own.

[@haydenhadfield5612]

Interesting question

[@bethsanders6218]

They take a loan against their stock

[@votan232]

"The people of Switzerland are fine with the high level taxes" Switzerland is a tax haven just saying, you propbably meant Sweden🤦

[@apollomartin9106]

Switzerland 🇨🇭, is correct fahm

[@Alexander5400sonne]

I am from Switzerland and I am finde with paying high level taxes which means about 30% in my case.

[@patrickbateman529]

Low taxes for foreigners. Taxes on citizens are some of the highest in the world depending on the canton.

[@oanaheller2166]

I own a small business and I pay 3% of revenue in taxes. I am just the owner on paper, but I actually do everything for tgis business. If I were to hire myself I would have to pay 45% in taxes. I studied the taxation laws of my country with an accountant before opening my business and I believe that I made the best choice.

[@2women1truth]

where u live

[@oanaheller2166]

@@2women1truth in the European country of Romania

[@ZagmoutCPAs]

I am a CPA and have a master’s degree in taxation. Some of the info here is factually incorrect! I have few clients who got into trouble with the IRS for shady schemes portrayed in this video.

[@luumaven]

I suspected this too! Lol

[@bfshorts6443]

This video is full of misrepresentation. Lots of the loopholes have already been closed, especially the art one.

[@jessicabixler1658]

Well considering Biden wants to fund tax evasion crackdown to pay for infrastructure, that tells me a lot of the wealthy are still doing it anyway.

[@brandonb.288]

Agreed! Even if it is plausibly done it is loosely briefed in the video and would require completely proper setup and accounting beforehand. Moral of the story - it pays to have a great CPA as well as audit your own books or pay for them to be audited if your organization grows to that point.

[@splint3048]

Yeah, an example is rich people using borrowed money to live on rather than having a taxable income. I looked into this (Australia) and the wording on the ATO web site was that borrowings should be used to directly benefit the company so personal expenditure does not qualify.

[@abdulaziza.suleman7604]

Investing in bitcoin is the best investment anyone can do this, because it has made a lot of people millionaire. I pray that anyone who reads this will be successful in life

[@aniekanthompson8176]

I'm really tired of trading on my own and blowing up my account, I'm real interested in trading forex this year because the shape the stock market is take place

[@benildabituin1531]

I'm also getting into forex trading because a friend of mine told me that's forex trading is the best now to invest, well i have Bitcoin worth of $19,000 on my edge wallet

[@floribethenterprise.2686]

I'm also getting into forex trading because a friend of mine told me that's forex trading is the best now to invest, well i have Bitcoin worth of $19,000 on my edge wallet

[@aishahusseini5911]

What a coincidence Mrs Allen Lisa of UCLA financial institute had really made name for herself

[@aishahusseini5911]

I invested with $10,000 and I earned $100,000 in a space of 5Days business trading

[@guitar-ology2956]

The best tax decision I ever made was to stop using the cheapest tax preparers and instead use an expensive CPA.

[@youngatnaruto]

What are the advantage of a CPA

[@juststop16]

My brother doesn’t do taxes and this was before he was making a lot .. yess he is well informed

[@27forlife]

The fact that this video only has 650k views but decpacito has billions tells why there are small number of successful people.

[@adriennenash9048]

I don't know about an upgrade, but I watched the entire video! Thank you Alux!

[@greendavid4808]

Bitcoin is the future, Investing in it now will be the wisest thing to do especially with the current rise

[@oscararturo8161]

For real it's very profitable

[@nancylevi7436]

How does this whole bitcoin thing work, I'm interested in it and I'm willing and ready to invest heavily in it but I'm gonna need an assistant from any trusted and productive professional

[@nadyayana432]

You don't really need someone to tell you how to invest your coins, you can make research on your own and also try doing it yourself first.

[@markwilliams3001]

I will recommend Justin Trading Services for you their strategies is working for me at the moment and making good profit from bitcoin trading

[@fredrickmark4620]

Wow I'm just shocked you mentioned and recommended Justin Trading Services, I thought people don't know them... they're really awesome!

[@ervinmiller938]

Having more of your income confiscated,your entire life in exchange of substandard government run service isn't anything to brag about.

[@morrisonnicholas6736]

Welcome to the U.S. where our motto is; "come back when you are a little more richer."

[@billcharleston3692]

We will endeavor to highlight the abuses and absurdities currently distorting our property rights and economy.

[@prycejames6072]

@@billcharleston3692 What is really happening to the world Economy? Economy crisis everywhere🤦‍♂️.

[@morrisonnicholas6736]

Clearly multiple actions are needed in order to achieve reform.

[@andersonkenneth8916]

The real estate industry crackdown clipped Evergrande's wings, stopped it taking on more debt and had the flow-on effect of forcing it to sell apartments at a discount so cash would continue rolling in.

[@ayyyejesterdazed]

Upgrade! Got my LLC at the end of last year using the money I received from unemployment... writing off the iPhone 12 and waiting to get the new iMac

[@johnstrato9795]

so your focus is on spending?

[@AILifeUpgrade]

So much tax knowledge from one video, more than what i learnt in my 29years of my existence.

[@John2r1]

That's because they don't teach about money in schools. They teach you how to get a job and that's it. My recommendation is that you go read the book Rich Dad Poor Dad by Robert Kiyosaki. It's all about what the rich teach their kids about money that poor and middle class people don't.

[@japu2350]

Well the 1st Rule is you have to be rich for this tip. As working class person who does not have money to own business, we can only pay tax because its taken out before it even reach us.

[@JD-hi8qx]

With that attitude, yeah. It literally costs maybe a couple hundred to start a business. That's all.

[@thinkbooth]

You learn only from your mistakes and failures. Don't let your failures weigh you down. Have a Good day

[@alux]

Back at it with the quotes and multiple profile comment likes. Not very alpha of you!

[@gmdthinkalikepodcast]

We’re all paying inflation tax with all the “money printing” career politicians are doing to keep their positions. This video is very enlightening 🙏🏼 UPGRADE

[@johnstrato9795]

You are correct, but how many ppl understand that?

[@gmdthinkalikepodcast]

@@johnstrato9795 Thank you. I wrote this 11 months ago, hardly anyone was concerned about inflation back then and this was pre-Ukraine 👀 People will find out the hard way when the stagflation/depression comes to past.

[@Hamidparchami]

This video is amazing! I feel like a blind person who got his sight back.

[@Freespiritedqueen]

haha!!

[@WendyNeptune]

The blind leading the blind....most of this is rubbish....as in illegal and big, flashing, spinning, neon signs to the IRS. As always, research what you're told and decide for yourself.

[@miguelmessam4090]

In Jamaica 🇯🇲 we pay up to 30% tax

[@rowanwright6676]

Yup set a way breada

[@MrCrosby.s_lunch]

That' s quite good actually

[@300_spartansoldier5]

Fi real bro g

[@splint3048]

In Australia it's up to 45% which is among the highest in developed nations. Despite that there are some benefits like a health system which is accessible by anyone and affordable university. For example my engineering degree cost approximately A$42,000 which is a little under US$32,000. I know university is free in some countries but it's still a better deal than what some people pay.

[@harshaljoshi8460]

This video is by far the best video of this channel, opened my eyes!

[@Bireshprema]

I can’t stop thinking about the irony and insanity of Elon Musk becoming the richest person in the world why they individual who has spent $20billon.

[@sidneyjackson3655]

Prince of Brunei’s spent it all maybe he would have been among the rich if he invested his money

[@lucymartin881]

No amount of money can certify Elon Musk. I’ll say he needed more that’s why he is investing on Bitcoins. Investing over 1.5 billion dollars.

[@junerolfson2435]

I wanted to trade cypto but got confused with the fluctuations of price

[@hauwaahmad9606]

Her success stories are everywhere …she has really made a good name for herself.

[@siluvaine4370]

@Rebecca flores You are on the right track

[@tsbreakout8783]

I need to keep watching more Alux. I want to start pro environmental businesses, and Alux seems to help with that. I only vote left because of environmental protection, but I’d be happy to vote anyone of any party that cares about the environment.

[@schoolofrandomthings]

You'd be surprised how many people on the right care about the environment. It's just that it seems like other issues always take center stage that become the dominating issue

[@TheMountainBeyondTheWoods]

I'm sure you have good intentions but like most people that vote for the left you're misinformed, not only the left does not care about the environment but the policies they want implemented are more damaging and harmful than what the right proposes.

[@toomanysecrets7121]

The good side loves green space. The left wants to concrete over it with mass immigration

[@johnstrato9795]

wakey wakey, no politicians care about the environment. They just want to fool you, to get your vote. So sad....

[@lovetteduke1852]

#upgrade is seriously needed in Nigeria 🇳🇬

[@neetasavla1168]

Also in India

[@juancarlossalcedo4079]

Excellent video!! The concepts works even for non billionaires, thank you!! 30% average tax here in Peru

[@bookworld5299]

Please make a video on how to achieve financial freedom.

[@alux]

Every video on our channel is specifically about that! We have playlists over playlists teaching you everything you need to know!

[@bookworld5299]

Thanks for replying honestly didn't expected, but can you make a specific video on financial independence meaning of it and ways to achieve it. Please it's a humble request.

[@jesseengebretson4787]

@@bookworld5299 follow Dave Ramsey on the 7 Baby steps .. after those are completed this videos are the building blocks after that and more understandably appreciated

[@supermichaelssecondchannel4342]

This last year I did my taxes the IRS “Adjusted” my federal return and I didn’t receive $5000 which was rightfully mine.

[@mikeritter2979]

They shafted me too

[@Missyou-.]

I’m still waiting for my 2018 and 2020 tax return 😡

[@gustavosafira6675]

"Taxes are for poor people my dear" it's such a funny quote. It's true though.

[@JaimeGarcia-pe7bj]

Taxes are for poor people and the middle class. Shouldn't be. But it is.

[@olahuuber6595]

Hey Alux, watched this video to save tons of taxes for the future me.😁 Thank you ❤️

[@alux]

Now you know how the rich do it.

[@infinity9108]

please make video on multiple passport

[@oleggeraschenko4932]

4%! Alux, I'm not kidding. In Russia if you're self-employed you pay 4% when serving individuals and 6% when companies. And in the pandemic I got all the tax I paid for 2019 back on my card in cash - a tax UPGRADE as support for the self-employed

[@romanvinogradovby]

Привет из Минска, братишка;) ИП по УСН с разработкой ПО на экспорт: 6%. Общая валовая выручка в год до 500k BYN (порядка $200k). Обещают с 23-го года сильно поднять. Не знаю что делать. Или часть не показывать, или переезжать куда-то

[@MofongoJones]

Coming to Puerto Rico under the Law 20/22 and avoiding taxes. It’s a tax heaven for rich people

[@sidzero]

"Art is the last major unregulated market" - At least it was until crypto came along.

[@alux]

Crypto is more regulated than art.

[@timothytheyknow1278]

NFTs taking the lead though..

[@theemperor2017]

@Imran A What is regulated and unregulated market?

[@the_expidition427]

@@theemperor2017 A market that has regulation and one without regulation

[@andreicapi3535]

@Imran A to be fair theres only so much they can do to regulate crypto they will never fully regulate it no matter how hard they try

[@team-stockmarketcommando2035]

Because of the economic crisis and the rate of unemployment now is the best time to invest and make money 💯

[@jullinjohn1351]

Exactly....nice words

[@gulliblejolly5877]

Investing in crypto currency is one of the best chance of making money 💸

[@gomesboston9059]

@@gulliblejolly5877 Crypto is the future 🚀

[@robertjoshua4351]

@@gomesboston9059 Buy gold and crypto

[@jessicalondon5548]

I wanted to trade crypto but got confused by the fluctuations in price

[@RandalColling]

All the incorrect comments below aside. The only way to NOT pay tax is to not earn an income. Truly Wealthy do not take a wage. No loop-holes needed. Truly wealthy have the company buy their stuff or BORROW the money.

[@jackb7982]

Amazing content! Thank you so much. Wish I had known this information years ago; however better late than never.

[@pranaysinghparihar4738]

So, step 1: basically start a company.

[@alux]

That's how to get started!

[@katerinaculture6610]

I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.

[@marcuswalkerjr.2756]

Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.

[@masjidwdb2544]

Well said, Investing is good but investing in the right things is the actual key to success.

[@stephenadams8698]

@Emi Pelham There might be so many investment out there but if profit must be considered which is the actual sole aim of every investment then I'll advice you to go into bitcoin trading because it has a higher profit rate than most investments.

[@ulrichlchegounbalogoun5123]

I also trade with her, and earn $2,600 every week. All my family have been trading with her and making profits

[@anncroxford2814]

@@ulrichlchegounbalogoun5123 Please 🙌how do i get in touch with Ma'am DAWN .I would love to trade with her.

[@waynelepa4283]

The wisest thing that should be on everyone mind currently should be to invest in different of income that depend on the govt especially with this current economic crisis around the world

[@boblee9274]

I am glad that I am achieving success in trading after I read through a post on btc and how to get started with the help of an expert mr billy

[@clemsonwale4046]

Investing in btc now is really good especially with the current growth in price of btc in the market now.

[@collinsdiego2086]

@@boblee9274 Is he legit, can he be trusted?

[@boblee9274]

@@collinsdiego2086 Yes he's legit also an expert and I have been earning from he's platform.

[@michlaim6841]

The global pandemic shut many financial institutions from functioning thereby rendering most people jobless & investors lost more than they ever thought of losing.

[@sakispsinakis]

Watching this from my yacht with a foreign flag...solid video...sent it to my accountant.

[@jamessmith6266]

Great video and ideas, especially if you live in South Africa.

[@Atem_S.]

In Canada, we have progressive tax brackets and Quebec is higher! Once you pass 211K her you're taxed @51%. One of the main reason am leaving! Upgrade

[@griffithdowney8612]

Me too...12 months and counting

[@TheAshdan81]

You are not the only one...too many people want to leave Canada and perhaps the government knows this, hence increasing immigration levels to counteract the migration

[@Atem_S.]

@@TheAshdan81 the reason why a lot of people want to leave Canada is not the taxes, they are not that high unless you live in Quebec or Ontario, the real reason is due to the government how they handle Covid and the rights that are being stripped in favour of the LGBTQ+. Trudeau is more interested in taking selfies and give more rights to them than get the pipeline build and create jobs for the country! That's why!

[@JamesJones-kh6tr]

I am also leaving my country, Finland, someday. Our taxes can be nearly 65% in the worst scenario. And the worst part is that our goverment is only looking ways to even increase our taxes life wtf. Our country currently owes so much money.

[@Atem_S.]

@@JamesJones-kh6tr 65% and they still want to raise them... Funny How here in the west (USA) they keep talking about you folks as the example of universal healthcare and high taxes and how people are happier! I would leave!!! 65%!?! What the fuck am I supposed to do with 35 of my income earned??? Especially if you can not invest?

[@Freedomtospeak1]

Newsflash: Roughly 47% of Americans don’t pay taxes.

[@alfredjoseph6813]

thank you ALUX for this video

[@alux]

It's super valuable Alfred! Thanks for being here!

[@joe2k20]

once Alux becomes a billion-dollar company yall should adopt these 😂😂. Also #UPGRADE

[@alux]

We're already doing most of it.