Citizens for Tax Justice: Tax Tips with Mitt

Many Americans wish they could not only be as wealthy as Mitt Romney, but also use the tax planning strategies he has utilized to have such a low effective tax rate. Citizens for Tax Justice published a report with tax planning ideas taken from reviewing Mitt Romney’s previous tax returns. These tax planning ideas are:

  1. Don’t work for a living
  2. If you do work, disguise your compensation as capital gains
  3. Give to charity – but not cash
  4. Give to charity – but not now
  5. Give to charity – your own
  6. Use offshore investment vehicles
  7. Invest in sexier financial instruments
  8. Borrow money only to invest
  9. Be aggressive in your tax planning
  10. But don’t do anything illegal

For the complete report see this link

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