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/biz/ - Business & Finance

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12367424 No.12367424 [Reply] [Original]

Could a multi-billionaire conceivably manage his own finances without the help of accountants? Or is that just too much money being moved around at once for one person to keep track of?

>> No.12367444

the absolute state of this fucking board...

>> No.12367452

the answer is no. no he couldnt do it himself. thats why you hire a jew accountant.

>> No.12367458

>>12367452
What if he had no business interests outside of his own and he just bought a security like gold?

>> No.12367510

>>12367458
i dont understand what youre trying to say.

managing your finances is more than just buying gold. you have to manage expenses, write offs, business income, personal income, etc, etc, etc. it's literally such a fucking mess when you get down into the dirt of it its better to just pay someone off. hes probably not doing illegal shit, but that doesnt mean he doesnt know all the loopholes to jump through to pay taxes on only the bare minimum if not get tax credit from losses lol.

>> No.12367527

>>12367510
imagine buying stock at the top, reporting all your losses (which would be massive), and then forwarding those losses to the next year while holding that stock until it reaches new ATH's. Its literally a game of patience and having enough money to sustain yourself if the market's in a shit position. It's a gloriously beautiful game they play, we're just too poor to participate at their levels.

>> No.12367530
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12367530

>>12367510
>hes probably not doing illegal shit

>> No.12367542

>>12367530
i didnt mean it like that lol, obviously the guys a fucking prick. but i doubt he's knee deep in illegal shit when he's reporting taxes to the IRS.

>> No.12367550

>>12367510
I'm speaking hypothetically (obviously I'm not George Soros).

Is it really that hard to manage your own expenses and write-offs? Your income, again, could just be funneled into securities. Imagine there are no loopholes to exploit because you're tax-free. Why do you still need an accountant?