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A common tactic among wealthy business owners involves purchasing assets such as cars through company entities, thus writing off expenses. This practice, however, necessitates legitimate documentation linking personal use to business purposes, such as board meetings, to withstand audits.
Lessons from the Wealthy
As narratives surrounding financial manipulations evolve, the key takeaway is that wealthy individuals don't necessarily evade taxes; rather, they structure their financial affairs in ways that allow them to minimize obligations within the law. They maintain lifestyles of affluence while appearing 'poor' on paper, strategically severing direct ties to assets while remaining compliant with regulations.