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The not-so-secret truth about those secret 770 accounts

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.

 

 

 

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