Jan 15, 2020
1:39:50pm
BYU71 All-American
CPA's, are there any tax avoidance strategies that the rich use to save lots
of money on taxes.

I wouldn't call tax free bonds avoidance. It also a strategy anyone can use, unless of course they don't pay enough in taxes for it to be in their interest.

Would one consider giving to charity a tax avoidance strategy only the rich can use?

Maybe 1035 and 1031 exchanges could be considered tax avoidance that the poor can't take advantage of, middle to upper middle could.

Contributing to a Qualified plan is available to anyone making money, not just the rich.

Since as some define the rich they pay the lions share of taxes, they use the above concepts more than the poor.

I am not a CPA. I have my taxes done. I guess I am not rich because I don't avoid paying quite a bit in taxes.

If there is a CPA on here that knows avoidance methods only available to the rich, speak up.
BYU71
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BYU71
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