I know millionaires know ways of avoiding taxes legally. Can you help me out? Thank you for your knowledge.
2006-11-28 03:34:20 · 3 answers · asked by . . 1 in Business & Finance ➔ Investing
The only way to reduce the taxes on the gain on real estate is to do a "Section 1031 Exchange". The only problem is that you do not receive cash. You received another piece of real estate.
There is not a way to reduce taxes on the sale of stocks at a gain.
2006-11-28 04:38:18 · answer #1 · answered by Wayne Z 7 · 0⤊ 0⤋
Sell only to Mexicans.
You have to pay taxes because you have a brokerage account at TD Ameritrade and you are a United States of America Citizen or Resident Alien.
However, if your cousin Francisco Castillo (From Mexico) opens a brokerage account at TD Ameritrade HE DOES NOT HAVE TO PAY TAXES TO THE UNITED STATES OF AMERICA because he is from Mexico.
Top 4 Answerer.
2006-11-28 12:33:27 · answer #2 · answered by Anonymous · 0⤊ 1⤋
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2006-11-29 05:54:53 · answer #3 · answered by Anonymous · 0⤊ 0⤋