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Theres way better ways to launder money...I think you might be thinking of tax evasion.
by bronak1 6y ago
Theres way better ways to launder money...I think you might be thinking of tax evasion.
- jl2718 6y agoI don’t see how this could work, at least with US tax law.
- kkielhofner 6y agoWhen it comes to tax evasion ("avoision") there is no limit of creativity.
- DamnYuppie 6y agoBut tax avoidance isn't illegal, this has been tested many times in the US courts.
- kkielhofner 6y agoI'm aware of that (hence the parens and quotes) but I was more referring to what could probably best be understood as "common understanding", that is to say that a large portion of the population would probably be shocked at the kind of sophisticated avoision strategies that have been deployed to minimize tax liability. The average Joe doesn't declare $100 in income - evasion. The ultra wealthy don't get taxed on $100,000,000 in income - avoision.
- weaksauce 6y agoArt is a great way to launder money for the ultra rich. It's a pretty widely known scheme covered over and over again. here's one sample: https://www.forbes.com/2003/04/08/cx_0408hot.html https://www.forbes.com/2003/04/08/cx_0408hot.html