For high income earners, the IRS does not have any bias over individuals using legal methods to minimize their taxes. Unfortunately, because of their high-income levels, the wealthy have access to tax strategies for high income earners, which they use in minimizing their taxes for the usual tax breaks afforded to them. Keep reading to find out what those strategies are.
Read MoreTaxes are the subject that most of us are way more familiar with than we want to be. The unfortunate part is while we think we know all we need to know about taxes, we do not know as much as we should. I would bet that many of you have not heard of items such as luxury tax or gift tax. We know that we have to pay taxes with each of our paychecks and dread the looming of April 15 when it comes around.
Before you buy the next item you should read this article to have a luxury tax explanation.
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