Want to learn how to reduce taxes like a billionaire? This is my #1 tip.
What if I told you that in 2018 Amazon posted an income of more than $11 billion, yet the company paid $0 in federal taxes. And they did it legitimately. Would you believe me?
You see, when people heard about this, they automatically started hating and criticizing. That’s the worst thing you can do.
Like I always say:
Don’t hate the player and don’t hate the game. learn how to play the game.
The truth is, the wealthy know how to play the tax game. They know how to reduce taxes by taking advantage of the tax code.
Unfortunately though, no one has taught us how to do the same.
But don’t worry, ‘cause here’s a little trick that billionaires use to reduce their taxes legally.
#1 Tip for How to Reduce Taxes
I want you to take your earned money and reduce it to zero.
Now, I’m not saying you go spend that money. You have to invest it in real estate.
Investing in real estate is not the only way to reduce taxes, but it’s the best way in my opinion and it’s the one I’ve been using.
The goal is to have passive income replace your earned income. Why? Because passive income is not taxed at the highest rates like earned income.
Invest as much of your money as possible on a real estate deal. That deal is appreciating in value over time while providing you and your family with passive income.
You keep doing that until one day you wake up and realize, “Hey, my properties are generating passive income that is low taxed, they provide tax write-offs, and my earned income is zero so I pay no taxes for it.”
Here’s the thing. If you don’t figure out how to reduce your tax bill to 0 doing what I just showed you, you’re gonna keep paying more taxes than Facebook and Apple.
Check with your accountant, but what I’m telling you is real, legal, and it’s what wealthy people do.