GOOD

This Is How $21 Trillion In Taxable Income Is Hidden From The IRS

Simple tips for the cheaters.

April 18th was this year’s deadline to file your state and federal taxes for 2015, but if you’re a dirty corporation or filthy rich and looking to cheat Uncle Sam, this video is for you. Alternatively, if you’re a hard-working American just trying to get by, this is how you’re being cheated. “Like death, you can’t avoid [taxes] unless, of course, you’re rich enough,” says our fictional host Astoria Davenport. According to the video produced by AJ+, it’s estimated that corporations and individuals are suspected of hiding $21 trillion in taxable income.


How do they do it? Large companies stash their cash in the Cayman Islands, Luxembourg, Switzerland, London and numerous other tax havens around the globe. You can also pay yourself a small salary and take the rest of your money as dividends which are taxed at a much lower rate than a salary. Or, if you’re looking to live tax-free from beyond the grave, you can do it using specialized trusts to avoid estate taxes.

Although you may be cutting a check to the IRS year, if you become wealthy in fiscal year 2016 now you know how to use existing tax laws to avoid paying your fair share.

Articles

A two-minute television ad from New Zealand is a gut punch to dog lovers who smoke cigarettes. "Quit for Your Pets" focuses on how second-hand smoke doesn't just affect other humans, but our pets as well.

According to Quitline New Zealand, "when you smoke around your pets, they're twice as likely to get cancer."

Keep Reading
Health
via Bossip / Twitter

Sens. Elizabeth Warren and Bernie Sanders took aim at former New York City Mayor Michael Bloomberg onstage at Wednesday's Las Vegas Democratic debate, likening the billionaire businessman to President Donald Trump and questioning his ability to turn out voters.

Sanders began by calling out Bloomberg for his stewardship of New York's stop and frisk policy that targeted young black men.

Keep Reading
Politics
via United for Respect / Twitter

Walmart workers issued a "wake up call" to Alice Walton, an heir to the retailer's $500 billion fortune, in New York on Tuesday by marching to Walton's penthouse and demanding her company pay its 1.5 million workers a living wage and give them reliable, stable work schedules.

The protest was partially a response to the company's so-called "Great Workplace" restructuring initiative which Walmart began testing last year and plans to roll out in at least 1,100 of its 5,300 U.S. stores by the end of 2020.

Keep Reading
Communities