ilmscore | Prediction Details
"Instead of taking out a salary of $100,000 you can go and take a loan against the value of your business for $100,000. Now you still have $100,000 in your pocket but this debt isn't taxable because you don't actually pay yourself anything you're borrowing money from the bank and now you have $100,000 in your pocket just like before but this is taxfree because this is debt."
By Minority Mindset | June 9, 2024 | Pending
From video
How Rich People Use Debt & Taxes To Get Rich(er) 00:04:33 - 00:04:52
Interpreted Prediction
Rich individuals can borrow money against their business's value instead of taking a salary, and this borrowed money is tax-free.

Prediction Details

Topic
Business Tax Strategy

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