ilmscore | Income Categorization for Tax Purposes Predictions
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Wealthy individuals aim to shift their income from 'ordinary income' (earned from a job) to 'portfolio income' (from selling assets held over a year) or 'passive income' (like rental income), as these categories typically have lower tax rates and more deductions.
"So the first thing that every wealthy person tries to do which is something that anybody can do is t..."
Nov 12, 2023
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