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Re:How the Flash Crash Trader’s $50M Fortune Vanished by tedunangst on Friday February 10, 2017 @11:34AM (#13616622)
Don't forget to include the costs of creating dummy corps, the risk of the off shore owner of the dummy corp running away with your money, the lawyer fees to keep you out of jail, etc.

There are many legal ways to minimize taxes. I might go a step beyond run of the mill tax accountant advice, but if you're getting advice from a guy who changes his phone number every week, that could be a bad sign.

Re:How the Flash Crash Trader’s $50M Fortune Vanished by charlesdm on Friday February 10, 2017 @11:37AM (#13616647)
Of course. I'm not advocating that. But I do think most people assume there's not much you can do, aside from paying up. Getting a decent understanding of basic tax law pays itself back over the years.

I've met self employed people who don't even understand the difference between salary, corporate tax and dividends.

Re:How the Flash Crash Trader’s $50M Fortune Vanished by Retric on Friday February 10, 2017 @12:05PM (#13616906)
> who don't even understand

That's below the competence of an H&R block adviser. Having basic minimal competence is of course a good idea. But, the risk vs. reward from messing with your taxes is capped at a fraction of your income so there are generally far better risks to take.