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.
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.
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.
Add money to your 401(k) retirement fund beyond what is required. The money is tax free until retirement.
Lease a car instead of buying one. It is a good way to claim expenses for the small business you are running.
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.
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.