The Game with Alex Hormozi How the rich avoid paying taxes...MY strategy - Part 1 | Ep 312
11 snips
Jun 24, 2021 Discover how the ultra-wealthy leverage tax strategies to maintain and grow their wealth. Learn the importance of choosing your residency for tax advantages. Explore advanced methods for tax-free wealth growth, including using assets and loans. Shift your mindset on taxes and financial planning to align with the strategies of the affluent. This discussion provides valuable insights on becoming financially savvy and making strategic decisions for long-term success.
AI Snips
Chapters
Transcript
Episode notes
Live in a Tax-Efficient State
- Live in a tax-efficient state to optimize your tax strategy.
- Consider states with zero income tax for maximum benefit.
Leaving the US to Avoid Taxes
- Leaving the US to avoid taxes involves expatriation or living in specific locations like Puerto Rico or the US Virgin Islands.
- Expatriation requires paying capital gains on all assets, while island living has specific requirements.
Alex Hormozi's Perspective on Tax Havens
- Alex Hormozi explains why he doesn't prioritize living in Puerto Rico for tax benefits despite paying $18 million in taxes over three years.
- He values freedom and living where he wants more than minimizing taxes, especially after reaching a certain level of wealth.