The not-so-secret truth about those secret 770 accounts
Columnnist David Lazarus answers your consumer questions in this one-minute video.
Robert says he’s heard about secret “770 accounts.” What are they? Who can get them?
A Google search will turn up all sorts of nonsense about 770 accounts, also sometimes referred to as “presidents accounts.”
ASK LAZ: Smart answers to consumer questions
Supposedly, these are super-sneaky tax shelters for the super-rich -- yet another example of how the 1% gets more out of life than the rest of us.
The reality is a bit more mundane.
To find out what a 770 account really is, check out today’s Ask Laz video.
If you have a consumer question, email me at asklaz@latimes.com or contact me via Twitter @Davidlaz.
