Net Worth of Celebrities: Secret Tricks That LeBron and Other Stars Use To Save Money

Submitted by Alex Hillsberg

celebritysaveBig income means big taxes. But not for some celebrities. Many of them know how to wiggle out of IRS’ tentacles to save money. And when you’re earning by the millions, your tax savings can also mean millions. The infographic below features some of the celebrities who were able to take advantage of tax shelters in various forms. Lebron James, for example, got the better end of the bargain than Kobe Bryant because Florida is income tax-free. Despite earning less than the Lakers’ star, LeBron’s paycheck savings make up to bridge their income gap.

But a word of caution, though. Before you head off to work in Florida or other income tax-friendly states like Nevada and Texas, Market Watch advises that you consider the states’ other taxes, such as sales and property, which can level off the savings you earn from not paying an income tax. States are run like a business, too, and, one form or another, the state will find a way to earn more.

Interestingly, tax avoidance—it’s legal and different from tax evasion—doesn’t only work by shuttling to another state. You can also change countries that offer tax breaks to foreigners to attract their wealth. That’s how actor Gerard Depardieu kissed his country goodbye and settled down in Russia to save some money, mmm… just about $6.2 M per year.

In the same breath, should we accuse Americans who move out their wealth to other countries to avoid taxes of being unpatriotic? Some may agree, but others will just shrug their shoulders. It’s just the business of saving, after all.

Check out this infographic and see how some celebrities save some serious money:

Net Worth of Celebrities: Smart Tricks That LeBron and Other Stars Use To Save Cash

Thanks to FinancesOnline.com for permission to use this article/infographic, via Alex Hillsberg.

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About Sandra Bell Kirchman

My passion is for fiction, especially fantasy fiction. I have been writing nearly all my life, since the age of 7 when I produced a 5-page novel called "Angus the Ant" - self-illustrated. Since then, I have written and published a fantasy novel called "Witchcanery," which has won several awards and has met with some acclaim from readers around the world. I've also edited and published an anthology for the writers at my site FantasyFic.com, called "Birth of a Unicorn and Other Stories." Both books are available on Kindle; the latter is also available on Nook. Both books are sold as hard copies at most major online outlets. One of my later ventures was horror stories; surprisingly, since horror stories scare me, I find I have a special affinity for them, especially in flash fiction format (under 1000 or less words). Currently, I am working on two WIPs, one a sequel to "Witchcanery," which several readers have made me promise to write; the other an apocalyptic novel called "The Road to the End of the World." There are several examples of this latter novel in my blog "Fantasyfic," formerly known as "Wizards and Ogres and Elves - Oh My!" Fantasyfic is on hold temporarily, while I work almost exclusively on Puppy Dog Tales. My other blogs keep me hopping. One is a roundup of news and some fun pieces from around the world. It is listed under the name of "News, Views, and Gurus." The current blog is my pet favorite, if you'll pardon the expression. I'm an avid pet parent and animal lover. My three little Shih-Tzus are the joys of my life...and so is my husband, but I don't write about him. Anyhow, my blog "Puppy Dog Tales" is a work of love, featuring my doggies and other pets around the world. I'm a devoted advocate of animal rights and especially backing the cause of animal rescue shelters. My wonderful husband and I live in a very small town in southeastern Saskatchewan on the south side in a rustic, cedar-sided home. Our property is almost a whole acre, and is gracious and pretty (which is not easy to be in one package). All five of us are happy here.

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