📑 Ten Ways Billionaires Avoid Taxes on an Epic Scale

Reviewing the Secret IRS Files series, Paul Kiel provides a summary of ten ways the ultrawealthy avoid taxes:

1. The Ultra Wealth Effect
2. The $5 Billion IRA
3. The $1 Billion Parlor Trick: Turning High-Tax-Rate Trading into Low-Tax-Rate Income
4: The Magic of Sports Ownership: Make Money While (Legally) Reporting Losses
5. Build, Drill and Save: The Real Estate and Oil Businesses Can Both Be Tax Havens
6. Even a Billionaire’s Hobbies Can Pay Off at Tax Time
7. Think Your Taxes are Too High? Change the Tax Laws
8. Why Tech Billionaires Pay Less Than Hedge-Fund Managers
9. Brother, Can You Spare a Stimulus Check?
10. Trust This: How Wealthy Families Pass Billions to Heirs While Avoiding Taxes

I often read about how some organisations avoid paying taxes, this piece is helpful in explaining how.

Coming from an Australian perspective, Daniel Ziffer discusses giving it away, generous tax concessions and going offshore. Although, the Multinational Anti-Avoidance Law (MAAL) has made some of these strategies more difficult.