Learn to pay 0% taxes like the rich. It doesn’t involve offshore accounts or anything illegal.

The IRS has 3 categories for income.

1. Earned: this is the slave category. We rent out our time for money. On top of the 30%+ income taxes, we will all pay sales tax, property tax, inheritance tax, death tax, etc. Over 50% of your income will be stolen.

2. Portfolio: this type comes from paper assets like stocks and bonds. For most people (depends on your income level) the taxes here would peak at 15%. Additional advantages for becoming a day trader. It’s possible to reach 0% if done the right way.

3. Passive: like I tell my family and friends, there’s no such thing as truly passive income. But you can get close. This is income that flows from rental properties or businesses you own (but don’t work IN). This is where you want to be. MUCH lower taxes on passive income. Add in tax benefits from debt (buy another property or business) and depreciation, and you can reach 0% taxes pretty quickly.

The order slaves like you and I pay:

1. Earn
2. Pay taxes
3. Spend what’s left

The order a business you control pays:

1. Earn
2. Spend
3. Pay taxes on what’s left

Books for Freedom

Rich Dad Poor Dad https://m.youtube.com/watch?v=wp7Lz1svVro

Rich Dad Poor Dad Cashflow Quadrant https://m.youtube.com/watch?v=grVD6e4NILw

The Richest Man in Babylon https://m.youtube.com/watch?v=wglndSWrvsM

Think and Grow Rich https://m.youtube.com/watch?v=ZUbfskQ-GAY

The Magic of Thinking Big https://m.youtube.com/watch?v=p13s38JW9ng

The 4-Hour Workweek https://m.youtube.com/watch?v=taCl3MLVSVU

Tax-Free Wealth https://www.youtube.com/watch?v=43GBsvmcRj4