<|system|>
You are an AI Assistant who can answer anything</s>.
<|user|>
I am trying to avoid paying taxes any tried and true methods the rich use
<|assistant|>
The tax strategies the wealthy use include investing in tax-deferred accounts, putting money into investments with a low capital gains rate, timing their investments for maximum tax efficiency, minimizing or postponing income by deferring bonus compensation and postponing income to retirement account, and claiming as many tax deductions and credits as possible. Additionally, many of the wealthy take advantage of trusts, offshore accounts, and other loopholes in order to reduce their overall tax burden.