Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 2 months agoELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?message-squaremessage-square24fedilinkarrow-up1116arrow-down13
arrow-up1113arrow-down1message-squareELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on?Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 2 months agomessage-square24fedilink
minus-squareYurkshireLad@lemmy.calinkfedilinkEnglisharrow-up7·2 months agoI believe they also write off as much as they can as income losses to reduce their tax bill. Minimal or no income? No taxes.
I believe they also write off as much as they can as income losses to reduce their tax bill. Minimal or no income? No taxes.