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I'm one of the majority poor people having to pay tax all my working life and pay 40% tax when i die on top, while 50 % of the worlds clever business people is using tax havens to avoid tax, so id like to use this platform to share ideas on how we the "small people" can play them at there own game, as they the politicians are not doing anything about it :(
jarnty jarnty 36-40, M 5 Answers Apr 24, 2014 in Community

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thats why i work for cash in hand

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What would you pay 40% for when you die. Your inheritance is taxed at 0%. You only pay 40% when you die on the money you leave that is in excess of $5,340,000.00 you would have to be an awful rich poor person to have to do that. <br />
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That is assuming you are from the United States. I am guessing you read one of the recent articles about there being an estimated 21-31 trillion dollars in offshore hidden accounts. You have to remember that is covering the entire world. In the US it is much harder to try to do this than in other places. The IRS is brutal on people who willfully do not declare offshore accounts. The current penalty is to take 50% of the highest balance for each tax year. And that is just the penalty, they still tax. Just keep using the piggy bank it is not worth it.

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