Double Your Income: Stop Paying Taxes!

The easiest way to double your money—nearly overnight––actually has very little to do with investing. How much wealthier would you be if you could just keep the money you already make?  

Forget an extra exemption, forget a marginally bigger return—give yourself a real tax cut, the one that reduces your yearly tax bill by 100%! 
 
Correct—You Can Pay ZERO In Federal Taxes—And It’s Completely Legal. 
 
Now, if you’re not an American citizen, this is simple. Just move to any one of numerous zero-tax jurisdictions out there—places like the Bahamas, Panama, or the British Virgin Islands. Easy does it. 
 
But, if you too are from the land of Baseball, Budweiser and Bald Eagles, the path is slightly more involved. 
 
Only two countries on the planet tax their citizens on worldwide income—Eritrea and the United States.
It doesn’t matter where you live, you still have to check in with Uncle Sam each year and pay your dues. 
 
Until recently I was in this boat—living the last ten years as a resident of multiple countries across Europe.
Just living abroad has its tax advantages, mainly the foreign earned income exclusion, which makes the first $102,100 you earn tax-free. But for the rest of your earnings, with few exceptions, you’re in the same boat as everyone else living stateside. 

The first time I read Robert Kiyosaki’s Cashflow Quadrant I remember being surprised by how much of the book was devoted to taxes. His point though, was that the wealthy don’t just spend all their time putting together investments, researching their next trade; they are equally dedicated to reducing their tax burden. 

And it makes sense.

Just think of your personal situation, say for last year. 

Which was greater—the net returns from your investment portfolio, or the amount of tax you paid to the government? 
 
There’s a reason they call it a tax BURDEN, and the more I think about it the more astonished I am. 
State and Federal combined, you’re lucky to get away with 40%. I have some friends in California and New York paying upwards of 50%––half their year––to taxes.
 
Just because it’s normal doesn’t make it any less shocking.

Look at this way—every year you work the whole month of January, all of February, the month of March, April, and all of May—for free. All of that money goes….somewhere. And if you’re doing well in life, go ahead and chuck in June’s paycheck too while you’re at it, just for good measure. 
 
Makes today’s calendar date pretty depressing if you’re grinding it out in the office right now; one month down, just five more to go….
 
But There Is Another Way.