Chereads / The Wealth Code / Chapter 175 - 0175 Paying Taxes and Adoption

Chapter 175 - 0175 Paying Taxes and Adoption

  Lynch never considered paying too little tax at tax time to be an honorable thing, never did.

  There was once a rich man who proudly told others that he filed taxes in full for his income every single time, and that the main source of his income was the fact that he had hired himself out and was being paid a salary that was barely decent.

  There were even articles written about this to praise the rich man's actions and to treat him as the conscience of the community.

  But these people would never tell the public how much the rich man paid in full, because they were too ashamed to say so, and this was not good for the rich man's image in the eyes of the public.

  Paying less tax will make his social image become very bad, Lynch does not want to become a social "mainstream group", that is, the middle and lower classes abandoned, so he will not do that.

  He always believed that the more power and wealth he had, the more responsibility he had, and the more he had to set an example.

  Vera had known what Lynch wanted from the beginning, and he had initially even wanted to actually pay his taxes in full.

  At this point, she also had some curiosity, "How much income will I have to deal with, maybe I should have a plan ahead of time."

  "Not a lot!" , Lynch said casually, "A million dollars or so in cash, and some shares."

  Those words were really infuriating, if that wasn't a lot, then what was a lot?

  Vera rolled her eyes, she liked this feeling of being with Lynch, there wasn't that rigid hierarchy between the upper and lower ranks, and sometimes people would make jokes at each other's expense.

  They seemed a little more than the closeness of a normal friendship, but not too close, she enjoyed it, it made her comfortable.

  Using her own expertise, she gave Lynch a set of options that she thought would be the most favorable to Lynch's legal tax avoidance, which probably meant turning "income" into "capital gains", which was investment income and not taxable when the individual didn't benefit from it. This is investment income, which is not taxable when the individual does not benefit from it.

  At the same time, the company does not need to pay tax on this, because it is not sales or business income, and naturally there is no tax problem.

  Of course, there are still some legal means, after the completion of the money will be able to be placed in Lynch's personal control of the company's public account, the more interesting thing is that this company from top to bottom are only Lynch a person.

  Lynch can then spend the company's "public money" in the name of the company's various private consumption, because he is an independent shareholder, so he will not be held responsible for their own.

  When he feels almost time, he can also through other methods to the company tossed "bankruptcy", and then after some means, he in his personal name at a very low price and the property rights party signed an agreement to take all the company's property rights.

  Most of the time, the owner ends up being the bank.

  Reasonably and legally, a lot of taxable assets just go into people's pockets through a few steps that are actually not mysterious to some people, and they are not liable for anything beyond that, and even the Federation IRS would have a hard time finding a way to deal with them.

  There may be some moral problems with this, but for capitalists, morality is something that only exists in the realm of charity galas organized to save money.

  As for in life?

  That's impossible, morals don't sell, they don't keep them!

  Lynch didn't take a stand, and Vera naturally knew that her more idealized tax avoidance scheme didn't meet with Lynch's approval; this had actually happened several times, and at first she'd found it a bit uncomfortable, but now she was starting to get used to it.

  Lynch's forcefulness was different and more acceptable than anyone else's, but of course Vera was probably the only one who would think so.

  A little later she made a new set of proposals, Lynch would probably have to pay taxes for the deal roughly divided into two parts, the cash part, and the cross-holding part, and overall Vera could help him keep the tax rate legally and reasonably low.

  "As a rough estimate, you'll probably have to pay at least a 16% tax rate on the deal." , which could actually be lowered, but Lynch didn't agree.

  Lynch then nodded with satisfaction, "Trouble you to work harder, when the time comes, I want those proofs of tax payment to be well preserved."

  "Of course!" , Vera had gotten used to Lynch's demand for details, he always demanded that no bills be missing or lost, and that they be kept properly, as if someone was going to be checking on his books at any moment.

  After all this Vera quickly went back to work, she was in charge of both the company and Lynch's personal financial accounts, it looked as if the company was small and nothing was going on, but it wasn't.

  The branches of the company were in the process of being organized, and all kinds of expenditures and incomes were constantly being generated, and she had to review most of them at the end of the day.

  Vera hadn't been gone for long when two fourteen or fifteen year olds knocked on the door of Lynch's office.

  Their faces were a little more flushed than they used to be, they had been having a pretty good time lately, and Lynch had talked to the orphanage they were in about adopting these kids.

  Legally speaking, in the Federation, a person who was not yet married could not adopt a child, and people would question whether the adopter had the knowledge needed to raise a child, as well as their motives.

  Especially after a certain single, middle-aged male shook the world by adopting and killing multiple girls in a row, people had very hard and fast standards for what was required to adopt.

  But that was only when people had the time and energy to pay attention to these marginalized people, and now was clearly not one of those moments!

  The orphanage side finally agreed to Lynch's request, and there were no girls among these children he adopted, which evaded the most sensitive bottom line in society, although it was said that there were quite a lot of harm done to boys, people always subconsciously disregarded these issues.

  The two children had come here to deliver the news to Lynch that the director of the orphanage had invited him to talk about the rest of the bit.

  Lynch then rode in the car with the two half-adult children to Sabine's St. Daylight Orphanage, which was formerly a monastery before it became an orphanage, and there were actually many such orphanages in the Federation.

  There were quite a few convents that also took on the work of orphanages, and in the commodified capitalist market, these places gradually changed their shape, but some things remained, such as the abbesses in their monastic garb, and the nuns who played the role of employees.

  "You are very welcome, kind Mr. Lynch!" , the director of the orphanage hurriedly walked out from his office, slightly out of breath.

  He appeared to be in his fifties, was balding, and wore a pair of round, black-rimmed glasses; he had very pronounced lines of decree, which made him look serious and stereotypical, as well as somewhat intimidating.

  At the moment, even if there was some smile on his face, it was hard to feel that it was a smile, it was more like a strange expression that could not be described.

  The ancient convent was crawling with moss and some vines, it had a very historical atmosphere, some people stood in the distance secretly observing the situation over here, they didn't dare to come closer, and would even quickly leave because of the gaze of some nuns.

  It was obvious that the abbot and his nuns were very authoritative here.

  Lynch reached out and shook his hand, and under the guidance of the abbot, the two entered the abbot's office, which was decorated with some group photos of successive abbots and some possibly famous people and such, as well as some donated paperwork.

  "Have a seat!" , the abbess looked solemn as a young nun served the two a light tea, a simple floral tea with a not so strong scent and a refreshing aroma that many people liked, while it was not so expensive.

  After a slight pause for a moment, the abbot spoke, "Mr. Lynch, in fact, until now, I inwardly disapprove of your adoption proposal, you are still very young, and can not meet the standard ..."

  He paused as he spoke, probably because he didn't get the desired feedback from Lynch's face, or maybe he felt that he was a bit too bored to say these words now, he sighed.

  Just as he was about to say something else, Lynch pulled out a check from his pocket and placed it on the table.

  No words could carry as much weight at a time like this as a check, and Dean's attention was instantly drawn to it, he reached out as if to touch it, but then withdrew, Lynch gently pressed the corner of it with his cup.

  "A cash check, any bank can cash it straight away and transfer that money into any account as requested by the person holding the check!" , Lynch said slowly, he looked up at Dean, "All that pointless dialogue that we all know can be dispensed with, you'll just give me the paperwork and no one will know what the numbers on this check are."

  Lynch would only leave with those adoption papers this time, these papers were the basis for these children to be able to pay social security in the future, otherwise it would be very difficult for them to get a social security number, which was why they had their freedom but still had to rely on the orphanage.

  The dean argued somewhat feebly, "It's not what you think!" , but soon he returned to his desk and handed Lynch the already organized adoption papers.

  This was a secret deal that wasn't known by more people, on the surface Lynch would take one child, in reality there was more than one, these were just for show.

  Those children had been working outside as child laborers, they would rarely return to the orphanage, and would leave when they turned sixteen, which provided the opportunity to operate from, and anyway, no one in the orphanage would know whether those children had been adopted away or had been working outside, except for the director herself.

  Looking at the pile of adoption certificates, Lynch held it in his hand and looked at it, and when he confirmed that there wasn't too much of a problem, he casually picked up his cup in passing and took a sip, which just happened to give way to the check that had been pressed into one corner.

  This check immediately fell into the hands of the dean, who looked at the numbers on the check, and a look of satisfaction appeared in his eyes.

  Of course, even an orphanage director has to have some acting skills, and he put the check into the pocket of his shirt without moving and removed his eyes, squeezing the bridge of his nose to squeeze out some tears, "I really can't bear to part with these children!" (What crocodile tears!)

  A slightly mocking sneer also surfaced at the corners of Lynch's mouth, "You are truly a merciful man!"