Why can’t a middle class individual use the same tax avoidance methods as the ultra rich to pay little to no income taxes?
In: Economics
As soon as you can, pay a mortgage instead of rent. More than half of your mortgage payments will interest that are tax deductible in the beginning, and you will be building wealth in an asset that gains value.
It’s like leasing a car vs owning a car that appreciates instead of depreciates.
There is a huge population of people that build wealth with simple smart tax decisions that are not poor and are not billionaires.
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