How to Hide Money Legally

by Shawn M. Tomlinson; Updated September 26, 2017

Hiding money legally is easy and useful in this day’s economy. There are no secrets in how to hide money legally. There’s the old-fashioned under-the-mattress “safe,” but that really isn’t that safe. There are much safer ways these days. You can start by obtaining a safety deposit box.

Step 1

Get a safety deposit box. Without a warrant, no one has a right to look inside your safety deposit box except you. This is a good place to keep cash that can’t be stolen from your house or business. Of course, it is vulnerable to bank robbery, but the odds are better at a bank than at a home or business to keep money safe.

Step 2

Obtain a life insurance policy and overfund it. You can put money into insurance and you always can borrow against it if you need to.

Step 3

Add money to your 401(k) retirement fund beyond what is required. The money is tax free until retirement.

Step 4

Lease a car instead of buying one. It is a good way to claim expenses for the small business you are running.

Step 5

Claim every single expense you can for your small business. Counting the cell phone bill, for example, can be put on the small business report as can business-related mileage, computer software, computer hardware and any other equipment or supplies needed.

About the Author

Shawn M. Tomlinson has been a newspaper and magazine writer for more than 28 years. He has written for a variety of publications, from "MacWEEK" and "Macintosh-Aided Design" to "Boys' Life," "Antique Week" and numerous websites. He attended several colleges, majoring in English, writing and theater, and has taught college classes about writing.