Between 2014 and 2018, Warren Buffet reported $125M in income. His effective tax rate was only 18.9%.
Buffet, Bezos, Elon, and other wealthy Americans use the tax code to their advantage and keep more of their $$ to invest.
Here are a couple of their tricks you can use 👇👇👇
1/ Nothing that Buffet, Bezos, Elon, and other wealthy Americans do is illegal. The basic approach is simple:
They minimize their reported income and take whatever deductions are available -- donations, losses, retirement contributions, and more.
2/ Without using any deductions or loopholes, Buffet would have paid close to $50 million in federal income taxes. In reality, he paid less than half of that -- only $23.7 million.