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Tricks America's super-rich use to pay hardly any tax

Strategies America's elite employ to reduce their tax bills
High earners, low tax
Having zero or low taxable income
Having zero or low taxable income
Using capital gains
Using capital gains
1031 exchanges
Equity swaps
Harvesting tax losses
Harvesting tax losses
Harvesting tax losses
Borrowing and offsetting the interest
Borrowing and offsetting the interest
Borrowing and offsetting the interest
Claiming every allowable deduction
Claiming every allowable deduction
Claiming every allowable deduction
Using tax havens and shell companies
Using tax havens and shell companies
Using tax havens and shell companies
Incorporating
Incorporating
Incorporating
Donating to charity
Donating to charity
Donating to charity
Deploying the buy, borrow, die strategy
Deploying the buy, borrow, die strategy
Deploying the buy, borrow, die strategy
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Kira Garmashova/Shutterstock

Strategies America's elite employ to reduce their tax bills

With teams of hotshot accountants at their disposal and plenty of perfectly legal loopholes on their side, America's ultra-wealthy are able to whittle down their contributions to the federal and state coffers drastically, as confirmed by the recent bombshell report by ProPublica based on leaked IRS records. Click or scroll through some of the ingenious tax avoidance, or 'wealth defense', tactics the mega-moneyed use to pay hardly anything.

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Daniel Coughlin

14 July 2021

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