Tax havens: Super-rich 'hiding' at least $21tn
 

A global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

The figure is equivalent to the size of the US and Japanese economies combined.

The Price of Offshore Revisited was written by James Henry, a former chief economist at the consultancy McKinsey, for the Tax Justice Network.

Continued Tax havens: Super-rich 'hiding' at least $21tn - BBC News

Sweet article from 2012 man.

Taxes are a joke. Write off everything you can.

Just discovered my truck needs about $1k of work. It's a company owned truck; We need it for our local business. Write off.

Just hope you never get an in depth audit. Around here you have to keep vehicle logs when you have a vehicle that gets personal use too.

Mileage deduction almost always ends up being more, but whatever. I wouldn't be surprised if you're taking both. You've already demonstrated that you're not audit proof.

Too hide money all you have to do is dig a pit, throw the money in and burt it. To ensure no one ever finds it, set light to it.

Otherwise it's money in a bank somewhere gaining interest, because of the bank's investments, you're not paying taxes on. When the interest or capital is spent it's taxed, providing jobs, keeping the wheels turning, etc.

Should retail taxes be higher? It would mean less people able to dodge paying so little tax.

If a Government can't cover it's spending by reducing spending, like less police, fireman, road repairs, cleaners, etc, raise taxes or send the country deeper into debt. So our children pay it off, or the whole thing melts down.

And that local business is?

I would imagine if it's not something that required a truck and you earn most of your income from your home office. Beware!!!

Ever been audited?

In the UK they drag you in, tell you it's not acceptable and send you away to redo the accounts, without a clue what they picked up on. I would prefer the police with a search warrant, it told me what they were looking for. :1orglaugh

so nonsensical. If you have offshore cash you turn it into offshore assets, you don't let it sit as cash, especially in this economy. Dumb article by a dumb person.

the accountant I use was an auditor for the state of California... every is done with an audit in mind

Eat the welfare mooches (on the dole) they are fatter and taste better :2 cents:

LOL... thought the same exact thing