How to Hide Money Legally

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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.

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