With the tax season well underway here I have been reading so many articles and comments from people who are super upset that billionaires and big business pay way less tax than the average worker. The most over the top example is how apparently in the US Amazon paid virtually nothing in Federal taxes. This was apparently done through methods such as carrying over losses from previous years while continually re-investing its profits to develop new solutions internally.
As you can imagine this made a lot of working class people upset. When you think about it though many people can kind of implement the same tactics even as a regular individual. For example, I actually know people who start part-time businesses at home where as a result of doing so they can write-off various expenses and invest their main work income into growing their business. This reduces the amount of taxes they have to pay and as well it is positioning themselves to hopefully grow the business large enough so that they don’t have to work a traditional job anymore. Like here would you rather complain about what the wealthy people do or simply try and implement those same benefits into your lifestyle?
I know there is probably someone out there who would sarcastically imply this would mean being like some ruthless business person that crushes everyone for money where ethics take a backseat. But generally speaking you can just take what works for you when it comes to studying how wealthy people do it. Like in this case, maybe investing in yourself and your small business would reap a lot of benefits in a similar fashion.