4 ms·
I keep my tax plans secret. A) Because I paid alot for the CPAs, tax lawyers, private letter rulings and case law. B) Actually talking about it to those strug
by vmception 5y ago
I keep my tax plans secret.
A) Because I paid alot for the CPAs, tax lawyers, private letter rulings and case law.
B) Actually talking about it to those struggling with taxes would result in them noticing they can't participate any more than driving to the neighboring municipality for cheaper gas tax, instead of anything more convenient, and could result in the tax laws changing from their widespread annoyance.
C) tax clickbait publishers like ProPublica won't figure it out for them for another two decades, which is long enough.
- throwaway0a5e 5y agoI don't talk about my side gig for the same reason. If it was widely hyped among the people who have the capital to enter it all the money would be driven out of it.
- Noumenon72 5y agoI am very susceptible to this kind of thing. Most of my life I have read articles about most tax shelters being dodgy, watched by the IRS, and concluded all I can really do is 401k and tax loss harvesting. But now that you mention it, this feels the same way as me not realizing all the effort people to to look better on camera, because they don't really talk about it. So I end up not competing in the areas of tax avoidance, presentability, or clout, giving those who kept their plans secret an even bigger advantage.
- vmception 5y agoSadly it is a factor of exposure. There are many odd and noncompliant strategies out there, and many compliant ones.