When you make a large fortune, your tax liability is a small fortune. So, what’s a billionaire to do if he or she wants to protect that fortune? And can you take advantage of the same opportunities? Here’s how a few billionaires did it:
Converting High-Tax-Rate Trading to Low-Tax-Rate Income was a strategy used by Jeff Yass of the Wall Street firm, Susquehanna International Group, created tax savings of over one billion dollars over a six-year period moving short term gains into long term investments.
Report Loss While Making Gains is a technique used by Steve Ballmer, formerly with Microsoft, who bought The Los Angeles Clippers. Using write offs such as players’ contracts, he protects a worth estimated to be over $135 billion.
Drill, Baby, Drill/Deduct, Baby, Deduct may be the motto for Stephen Ross, owner of the Miami Dolphins. Using a vast array of tax breaks in oil (including oil spills), it’s said he was able to go ten years without showing income.
A Horse Named Deduction would not surprise. Racehorse operations run by the super-rich have garnered hundreds of millions in tax write-offs.
You too can color outside the lines. You don’t need to be Jeff Bezos in order to leverage tax deductions used by the super-rich: Take advantage of a free discovery session by visiting New Client Application or https://calendly.com/d/46r-49m-93k/10-minute-intro-call.