This is the final part of my series on top ways to avoid income tax. If you miss the old posts, you can read part 1 here and part 2 here. The Offshore Corporation This is the favorite playground of the rich. It is estimated that one-third of the world’s wealth (over $5 trillion) is held offshore. This is a […]
Read MoreHere go again! I have another copy of the The 4-Hour Workweek to give away. If you didn’t win Timothy Ferriss’ book the last two times around, you now have another shot at it. The 4-Hour Workweek is one of the best book I’ve read and if don’t win it, then I highly recommend you go down to the local […]
Read MoreThis is part 2 of my series on the top ways to avoid income tax. In case you missed part 1, you can read it here. The Principal Residence Flipper I have a friend who likes to buy the cheapest house in the best neighborhood. While living in it, he would fix it up and renovate it. After the renovations […]
Read MoreIt is the right, and IMO, duty of every citizen to structure their financial affairs to pay as little tax as possible and to avoid paying taxes whenever possible. Tax avoidance is not illegal, tax evasion is. The two are completely different from each other. Avoiding income tax is not the same as evading it. If you have ever contributed […]
Read MoreJust 26 days after passing the 6,000 RSS readers mark, this blog has broken the 7,000 RSS milestone – the FeedBurner chicklet is showing 7,107 RSS readers. What that means is 7,107 people read this blog with the full feed RSS yesterday. Today’s figure will be available tomorrow. I predict it will go higher. I have wrote several articles on […]
Read MoreWhen a business hires employees, they can write off the full cost of the workers because the money paid to employees for work is taxable income. This helps maintain the “income should only be taxed once” rule. If the business can’t deduct the cost of employees then it would be paying them with after tax dollars. Then the employees gets […]
Read MoreAfter my two posts about the minimum wage laws (here and here), I guess I am on a political bent. Today I want to talk about killing off the progressive income tax system and replacing it with a flat income tax. The current progressive tax setup is grossly unfair and serve as a disincentive to move ahead. The progressive system […]
Read MoreCongrats goes out to Joshua of Think Like Them (who them are, I am not sure) for winning the second signed copy of The 4-Hour Workweek. After reading the book, Joshua will be well equipped to escape the rat race and join the new rich. If you didn’t win this time around, you have two choices. One – you can […]
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