Actor Wesley Snipes has gotten his reality check: do not avoid taxes to the IRS. He was sentenced in 2008 at a Florida court system to serve three years in jail on the account of three misdemeanor tax charges. Wesley didn’t like what he heard, so he wanted an appeal to the decision. According to New York Times, that appeal once again ruled in the Fed’s favor. The result is the same. He will be serving three years in jail.
Why Wesley Snipes thought that he could earn over $38 million dollars during the period he didn’t pay taxes and go ignored is unknown to us. Maybe Wesley thought he was too important to pay taxes. Maybe he thought he was above the law. Maybe he didn’t want the responsibility. Little did he realize that he was a talking target.
Contrary to common belief, you can expect harsh consequences for tax evasion. Sure, there are people who think that taxes are unconstitutional, going towards immoral purposes, unimportant, and/or that they too important to pay taxes. However, the fact of the matter is that the IRS will stop at nothing to get their money. There is a system in place for those who are caught stiffing the Fed. Wesley Snipes had to learn the hard way.
Don’t want to pay taxes?
By deciding that you’re going to stick it to Uncle Sam and cease paying taxes, you’d better believe that the gig will be up in 5,4,3,2… Let’s just say that it’s a battle that you will lose. Instead, learn a thing or two from the way the wealthy elite do business:
1) Discover tax write-offs. Tax write-offs are a man’s best friend. The people with the most money in the world practice this trade religiously. Hire a great accountant and learn how to do things the legal way.
2) Become politically involved. These taxing rules do not come from thin air but from individuals with direct ties to decision-making. Even if there’s no desire to be directly involved with politics, make sure you participate as much as possible. Vote for candidates that are aligned with your ideals on taxes. Attend events and socialize in political circles. A grassroot approach could very well end up being effective.
3) Move Your Assets Away from Yourself: The more money you can keep away from your personal filings, the better. The wealthy elite keep very little money to their actual name. This is why no one knows how much money the Rockefellers, Rothschilds, DuPonts, and Morgan families have. Their money is tied up in companies, trusts, funds, offshore bank accounts, etc. You’re an easy target if all your money is stashed in your name.
Above all, the lesson is to be financially savvy. Pay as few taxes as possible, but do pay them. Otherwise, you could be looking at a Wesley Snipes package of your own. You do the crime, you do the time.
*Image courtesy of Gambling 911.
Enjoyed this article?