When you make a large fortune, your tax liability is a small fortune. So, what\u2019s a billionaire to do if he or she wants to protect that fortune? And can you take advantage of the same opportunities? Here\u2019s how a few billionaires did it:<\/p>\n
Converting High-Tax-Rate Trading to Low-Tax-Rate Income<\/strong> 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.<\/p>\n Report Loss While Making Gains<\/strong> is a technique used by Steve Ballmer, formerly with Microsoft, who bought The Los Angeles Clippers. Using write offs such as players\u2019 contracts, he protects a worth estimated to be over $135 billion.<\/p>\n Drill, Baby, Drill\/Deduct, Baby, Deduct<\/strong> 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\u2019s said he was able to go ten years without showing income.<\/p>\n A Horse Named Deduction<\/strong> would not surprise. Racehorse operations run by the super-rich have garnered hundreds of millions in tax write-offs.<\/p>\n You too can color outside the lines. You don\u2019t 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<\/a>\u00a0or\u00a0https:\/\/calendly.com\/d\/46r-49m-93k\/10-minute-intro-call<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" When you make a large fortune, your tax liability is a small fortune. So, what\u2019s a billionaire to do if he or she wants to protect that fortune? And can you take advantage of the same opportunities? Here\u2019s 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… Read More<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[],"class_list":{"0":"post-225773","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"entry"},"_links":{"self":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/posts\/225773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=225773"}],"version-history":[{"count":0,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/posts\/225773\/revisions"}],"wp:attachment":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=225773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=225773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=225773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}