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.
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.