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Radical Personal Finance

777-How to Live Income Tax-Free in the USA (1 of 2)

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Self-improvement, Business, Education, Investing

4.21.9K Ratings

🗓️ 22 March 2021

⏱️ 30 minutes

🧾️ Download transcript

Summary

It's exceedingly difficult to live income tax-free in the USA. (At least if we assume you're going to make some significant money.) But it's not impossible. At least not conceptually. You just have to avoid that pesky thing called "income." Let's talk about how!

Joshua

Transcript

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0:00.0

Welcome to Radical Personal Finance.

0:02.1

I show dedicated to providing you with the knowledge, skills, insight, and encouragement

0:05.3

you need to live a rich and meaningful life now while building a plan for financial

0:09.0

freedom in 10 years or less.

0:10.6

My name is Joshua.

0:11.6

I am your host and today on Radical Personal Finance, I want to share with you how you can

0:15.0

live income tax-free in these United States.

0:19.6

Now, a couple of caveats as we begin.

0:21.8

I'm going to be talking in today's show about the United States, how you can live in

0:27.1

the United States and live income tax-free.

0:29.5

Obviously, there are many ways to live income tax-free in many places around the world.

0:34.4

You could move to the Cayman Islands and make millions of dollars as a banker, as a finance

0:39.1

guy, or as an online business guy and pay zero dollars of income tax as long as you're

0:44.2

not a US-American citizen.

0:46.4

You could, of course, do all kinds of things in other countries.

0:50.8

Every country, if you go through and study their tax code, usually winds up with some

0:54.3

strange little loophole, some strange little thing that makes that country attractive.

0:59.0

In Canada, you can actually earn a significant amount of money in the form of dividends from

1:03.7

Canadian corporations and pay zero dollars of income taxes on that.

1:07.9

In the United Kingdom, you can generate your income as a professional gambler and not

1:11.9

pay any income on that.

1:13.7

So, if you're a professional poker player, it behooves you to be living in the United

...

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