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Calista241

(5,632 posts)

7. My impression isn't that he was trying to hide the money, it's that he was trying to avoid taxes.

Wed May 9, 2018, 12:06 PM

May 2018

If AT&T and Novartis paid him directly, he would have had to pay regular income tax.

If they paid the company he started which "markets his services", it only has to pay corporate tax rates, which are much less than individual tax rates.

Most people that have companies that do this will then have the company buy assets, like their house, or whatever. They can also pay the 'owner or owners' a salary, which the owner will then pay taxes on.

It's typical estate planning.

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My impression isn't that he was trying to hide the money, it's that he was trying to avoid taxes. Calista241 May 2018 #7

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