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How the rich pay less taxes and you can do too

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  1. Maximize retirement contributions
How the rich pay less taxes and you can do too 1
Setting up a retirement plan and maximizing the contributions can decrease your taxable income.

2. Take advantage of major tax deductions for their businesses

How the rich pay less taxes and you can do too 2
Business owners plan and track business expenses so they can deduct as much as possible while using the profits to grow the business.

3. Donate to charitable organizations

How the rich pay less taxes and you can do too 3
Giving to a non-profit organization brings down your tax obligations and a way for your favorite organization to grow.

4. If you are self employed, deduct your health insurance

How the rich pay less taxes and you can do too 4
If you incorporate your business and pay employees for health insurance, your business can deduct these expenses.

5. Well-defined benefits plan

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