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“The more money you make, the more taxes you pay — right?
While the U.S. tax code is structured so that high earners pay a higher tax rate, the ultra-wealthy often take advantage of laws that enable them to lower their effective tax rate.
“In general, America’s wealthy are different when it comes to tax planning because of the options they may have with categorizing the assets they hold,” said Ron Carson, founder and CEO of Carson Group and co-author of “Avalanche: The 9 Principles for Uncovering True Wealth.”
“Their net worth often presents opportunities when tax planning to help protect their assets,” he added.”
JJ Editor's Daily Picks
"THE CAPTURE of the last territory controlled by the Islamic State on Saturday was far from a final victory over the movement, as U.S. commanders and diplomats were careful to emphasize."
"How a Gay Teen, an Internet Nazi, and a Late-Night Rendezvous Turned to Tragedy. When self-loathing meets the new age of online extremism."
"Benjamin Netanyahu ignored the intelligence operations of Beijing and Moscow for too long. Now, the Israeli government is finally paying attention, but it could be too late."
"Former Nick Jr. kids are now reckoning with this all-grown-up intrepid explorer, whose obstacles are a lot bigger than Swiper the Fox. And that is a hard pill to swallow."
"At the end of last week, the three-month Treasury bills' yield rose above the yield for 10-year Treasuries for the first time since 2007, prompting warnings that the U.S. is headed for recession later this year or in early 2020."
"A team of researchers from Ben-Gurion University of the Negev and Technion-Israel Institute of Technology attempted to answer some questions about voting with the help of artificial intelligence (AI)."
"The experts I spoke with all said that the internet had changed the way conspiracies spread, but conspiracies, both dangerous and petty, have always been with us."
"Pop culture today is obsessed with the battle between good and evil. Traditional folktales never were. What changed?"
"Trustful parents allow their children as much freedom as reasonably possible to make their own decisions. They trust their children’s instincts, judgments, and ability to learn from mistakes."
"Arugulagate. In 2007, Barack Obama was in Iowa, speaking as a presidential hopeful to a group of farmers who were worried about the stagnation of their crop prices while America’s grocery bills continued to rise."
"To say that information exists in and of itself is akin to speaking of spin without the top, of ripples without water, of a dance without the dancer, or of the Cheshire Cat’s grin without the cat."
"Ted Cruz replaces the Democrats’ muddled manifesto with a clear and unequivocal exploration of the hatred of Jews and its particular evils."