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Samaira
Samaira

27d

INFJ

Gemini

How do you escape income taxes?

If you're a salaried person and earning income(say): X. After income tax deduction, you get in-hand income: X/2. So, is there any way to avoid much salary deductions, and escape those income taxes? (This question is irrespective of the region). Please let me know if you follow any worthy escape routes.

7

6

Comment

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Prantak Singh

Prantak Singh

27d

ESFJ

Scorpio

1
2

Dubai

1

0

Reply

Supreet

Supreet

27d

INTJ

Leo

You dont, you pay as a duty or you get caught someday and pay penalties.. Too much to ask for!

0

0

Reply

Giamma

Giamma

19d

INFP

Scorpio

8
7

Being on salary restricts certain financial plays, but you're not without options. 1. Incorporate: If it makes sense, you could form a limited company and provide your services to your current firm as a contractor. This can potentially unlock tax efficiencies. 2. Invest: Use savings to buy assets that grow in value. You generally defer taxes on the appreciation until you sell. Keep in mind that when you sell, you might had, accidentally, changed your fiscal residency xD

0

0

Reply

Mr. Brightside

Mr. Brightside

23d

INFJ

Aquarius

Only 2 things are for certain in this world, death and taxes.

0

0

Reply

Micheal

Micheal

21d

INFJ

Gemini

6
5

Have you heard of the Fair Tax?

0

0

Reply

Saurabh Sharma

Saurabh Sharma

27d

ISFP

Taurus

6
5

I don't know

0

0

Reply

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