8 Ways to Legally Avoid Paying Taxes

The first way to legally avoid paying taxes is to invest in retirement accounts. Investing in retirement accounts is one of the best tax shelters for people. The rich focus so much time on avoiding paying taxes, because they know helong term impact is, the less taxes they pay, the more money that they can get into their investments.

Play episode from 02:23

chevron_right

Transcript

chevron_right

Transcript

Episode notes

78. 8 Ways to LEGALLY Avoid Paying Taxes Like the Rich (Save 6 figures+ in Taxes!)

*** Correction on the HSA Penalty! It is 20% and I stated 10%.

"If the money is used for an ineligible expense (whether medical or non-medical), the expenditure will be taxed and, for individuals who are not disabled or over age 65, subject to a 20% tax penalty. If you are 65 or older at the time of withdrawal, then you are free to withdraw money from your HSA for any purpose"

We have a YOUTUBE channel! Check it out here!

Our Latest Videos:

7 Costly Roth IRA Mistakes

What Would Happen If You Maxed Out Your Roth IRA By Age?! (These Results Will Amaze You!)

How to Become a Millionaire With a Small Amount of Money (Is it Really This Easy!?)

Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get a hold of me!

Thank you to Ladder Life Insurance for sponsoring the show! Check them out at ladderlife.com/pfp

Thanks to BlockFi for sponsoring the show! Get the all new Bitcoin Rewards Visa card with $25 in free Bitcoin at BlockFi.com/PFP
Thanks to ButcherBox For Sponsoring the show! Right now new members get a free turkey with their first box when you head to butcherbox.com/pfp.
Thanks to our sponsor Manscaped (Manscaped.com) for sponsoring this episode of the podcast. Use code PFP20 at checkout for 20% off + Free Shipping!
Thanks to OurCrowd for sponsoring the show! Invest in Venture Capital at OurCrowd.com/PFP
Thanks to Masterworks for Sponsoring the show! Invest in art at masterworks.io/pfp
Thanks to Boll and Branch for Sponsoring the show! Get the best sheets in the world at bollandbranch.com and use promo code PFP.