2. "Money does change people" In response to Reply # 0
I've seen it a few times with clients. It's different when they're the struggling artist and relying on help from others. Suddenly when they're doing well they don't want to have to pay to help anyone else.
Some creatives do really struggle with numbers and money management in general. Throw in kids and attitudes towards tax can really darken.
I had one client's wife try to get me to do things that basically would have done us both in as far as tax avoidance goes. I tried to tell her that, but she wouldn't hear it. Happened once they had kids and got a big mortgage. They're no longer clients. Probably just as well.
Here there are plenty of people who get away with it. The way averages are and the budget that the government works with, only the most egregious stuff gets uncovered. Make sure you pay a decent looking amount of tax, and you can get away with paying A LOT less than what you really owe.
Also, add in keeping up with the Joneses. There will be rich people in their ear talking about all the tax they avoid and how stupid anyone is for paying the same share as the peasants at the bottom of the heap. There's an accountant around town who drives around with a number plate that says NILTAX. They've never been hooked as far as I'm aware. But that's the attitude.
>same reason some regular people don't? > >you think they think no one will notice? > >no one will care? > >are there plenty people who do get away with it?
5. "I think it is for a few reasons..." In response to Reply # 0
Since they have bigger incomes, the IRS looks at them harder. If you make $30k and lie on your taxes to save $100, you could probably get away with it (don't test your luck though).
But if your income is $10 million, they are going through your shit with a fine tooth comb.
Also, they get their money in big lump sums and taxes are not automatically taken out. When someone hands you a big check, you're not thinking about paying taxes. You're thinking about what you can buy.
12. "They dont get W-2 paychecks" In response to Reply # 0 Thu May-21-15 08:29 AM by DaHeathenOne76
They get 1099 payments and have not set up LLC or Corporations They dont make as much money as yall think they do They have entourages and like to have cash in their hands to floss And they have a tendency not to listen to their accountants and lawyers
Yall gon chill on the shady accountant talk. . .
*speaking from experience with a B List personality ***************************************** . . . If I have something to say when there is a reason involved, I am perfectly willing to talk. Katherine Hepburn