Save like Billionaires do on Taxes!

One of the most important places where billionaires need to save is in their taxes. Just like you, everything that a billionaire purchases or owns is taxed. However, the average billionaire is more likely to save on taxes than you are! The only differences between you and the billionaire are:

• Quantity of assets and income (which we go over here)
• Tax-saving strategies

It’s unlikely that you can change the former come next tax season, but the latter is achievable! Especially if you take the time to connect with a tax professional, who can walk you through all the steps. Sign up for a free consultation to see how you can save like a billionaire.

Save like billionaires through tax write offs

This is the oldest trick in the book, by far. If you own a small business, the first thing that any tax professional worth his or her salt is going to ask you is, “What can you write off?” Are you looking at your meal deductions? How about your home office, computer, and cell phone? Travel is also a very common tax write-off for businesses of all kinds. All of these little things add up really quickly! So not taking advantage of them leaves you floundering and gives Uncle Sam more money than he needs.

If you’re someone who is not a business owner, then you still have tax savings available. The Child Tax Credit is a common deductible for individuals. Or, if you have your hands dipped in cryptocurrencies like Bitcoin, there are other options. In fact, we have developed a strategy on how to pay ZERO crypto taxes that you can check out.

Billionaires store their money

You might be thinking, “Yes, of course they do! Everyone does.” Just like you and your peers use banks, surely billionaires do the same? The truth is that this covers only half the story.

Yes, billionaires leave a decent amount of their money in banks, but banks are not the best place for your money. Because of rising inflation and the stagnant interest rates which banks offer, you are usually losing money by leaving it in a bank.

Billionaires have seen this fact of life, and they have adjusted their saving strategy. Instead of leaving the bulk of their income in banks, they now place them in appreciating assets. These are assets which increase in value the longer that you hold them. The most common appreciating asset is real estate.

If you want to save like billionaires do, then understanding the power of appreciating assets is paramount to your success. That’s not even considering the benefits of leveraging debt!

How Billionaires leverage debt to save on taxes

For a lot of people, debt is a bad word. It’s something which should be feared. And most of the time, this is probably true. Excessive debt, debt with high interest rates, and debts which you cannot discharge even if you go bankrupt are all horrible things to deal with.

But the way that billionaires see debt- as a tool- is what separates their astronomic tax savings from the average person’s meager ones.

Billionaires use debt as a tool which can leverage their position. Continuing with the real estate example, a billionaire can take debt against her property if she needs money. If the interest rate on the debt is lower than the rate at which her real estate property is appreciating, then simply taking out a loan is a smart choice!

When you take debt against an asset, that is not income. You haven’t sold the asset, and you haven’t realized any gain from it. But, you are still getting the benefits of the asset’s appreciation today.

A tax professional can actually walk you through how to do this, step by step. This is one of the most important mindset shifts that anyone who wants to save like billionaires must learn. Do not be afraid of debt. Just be smart when you use it!

Save like billionaires do by using a Roth IRA

The Roth IRA is a common retirement savings account which is used by millions of Americans.

With the Roth IRA, you are expected to take income which has already been taxed (after-tax dollars) to fund it. This means that your earnings can grow tax-free, and qualified withdrawals are tax- and penalty-free.

A self-directed Roth IRA changes the game. Some people think that this is a tool which is only available for the rich, and that the average person has to stick with index funds which are managed by investment managers. THAT IS NOT TRUE! Anyone can open a Roth IRA and do with their money as they wish.



If you wish to invest your money into a start-up, you have that opportunity. This is how many investors became rich by investing in companies like Facebook and Twitter WITHOUT fearing the tax man.

Obviously, this comes with its own set of risks. A lot of start-ups fail. A lot of investors lose. This is, however, a great opportunity which the rich leverage. A little risk today for a big payoff tomorrow.

Are you ready to save like billionaires?

Save like billionaires do by doing what billionaires do! Connect with a Yoke Tax professional today in order to figure out what works best for you. Remember, we’ll handle the numbers!