15 ways rich people avoid paying taxes

What did Albert Einstein say was the hardest thing in the world to understand?

• Quantum physics

• The theory of relativity

• Income tax

• Black holes

What is NOT taxed according to the text?

• Gifts under $15,000

• Reinvested profit

• Salary

• Personal savings

What do rich people use to minimize taxes when buying a new car?

• Using it only for personal use

• Buying it through their company

• Leasing it instead of buying

• Buying it under their name

Which country is mentioned as having no income tax?

• Canada

• Monaco

• United States

• India

What do companies like Facebook, Google, and Apple do to pay less taxes?

• Donate all their profits to charity

• Set up companies in Ireland

• Only operate in the United States

• Pay in equity

What is a benefit of donating to charity mentioned in the text?

• Public recognition

• Receiving gifts in return

• Getting a personal thank you letter from the president

• Money donated is not taxable

How does Elon Musk primarily increase his wealth?

• Through a high yearly salary

• Receiving new-minted stock

• Investing in real estate

• Winning the lottery

What is the last major unregulated market according to the text?

• Cryptocurrency

• The stock market

• Real estate

• The art trade

What is the cap on non-taxable gifts per year in the US as of 2021?

• $5,000

• $15,000

• $50,000

• $100,000

What do privacy coins allow you to do?

• Increase your tax

• Transfer money completely anonymously

• Pay taxes easily

• Buy and sell stocks without fees