Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 2 months agoELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?message-squaremessage-square31fedilinkarrow-up1110arrow-down13
arrow-up1107arrow-down1message-squareELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 2 months agomessage-square31fedilink
minus-squareYurkshireLad@lemmy.calinkfedilinkEnglisharrow-up7·2 months agoI believe they also write off as much as they can as income losses to reduce their tax bill. Minimal or no income? No taxes.
minus-squaresunzu2@thebrainbin.orglinkfedilinkarrow-up5arrow-down3·2 months agoA lot of the expenses are NOT substantiated but limp dick IRS won’t do their fucking job. Same with SEC… Useless regime whores
I believe they also write off as much as they can as income losses to reduce their tax bill. Minimal or no income? No taxes.
A lot of the expenses are NOT substantiated but limp dick IRS won’t do their fucking job. Same with SEC…
Useless regime whores