You do understand that you have to pay back everything you borrow???? And if you pay that back with income, that is taxed. So no, he is not doing that, because that would incur taxes.
This topic has been beaten to death, with every loophole explored. The IRS is very focused on ensuring that the loans are paid back, and if the loans are forgiven, then that is commuted into income.
can open shell companies opening shell companies opening shell companies
revolving door between corporate america + IRS/SEC/FDA
imma go left-field and say any billionaire that pays no taxes or is in a lower bracket than me, has really, really, really smart people PERVERTING tax loop holes and using super shady vehicles to hide their money.
hes most likely borrowing against his assets, to dodge income taxes.
You do understand that you have to pay back everything you borrow???? And if you pay that back with income, that is taxed. So no, he is not doing that, because that would incur taxes.
This topic has been beaten to death, with every loophole explored. The IRS is very focused on ensuring that the loans are paid back, and if the loans are forgiven, then that is commuted into income.
bro... when amz/apple/etc...
imma go left-field and say any billionaire that pays no taxes or is in a lower bracket than me, has really, really, really smart people PERVERTING tax loop holes and using super shady vehicles to hide their money.
irelands favorable tax laws are just that, laws set by ireland to SPECIFICALLY bring companies in
shell companies are designed for specific tax laws
the tax system is screwed up because of greed and incompetence
however, there are no direct loopholes to avoid income taxes on cash or investment income
money doesn't have to be hidden to not be taxed, it just has to not go through a taxable event
RIGHT.
and big banks like to launder money cause... theyre ok paying the fines.
shell companies do not have to disclose members! actually, they dont have to do shit.
shadow banking? ... cause daylight banking is soooo boring.
family offices? ... cause regular hedgefunds are easy to brag about.
bro... all these things exist for one purpose. to HIDE money.
Anyone can create or buy a "shell company".
i assume youre right.
i do know, though, they dont have to disclose shit. especially if your reported addy is in some bum-fuck island in the caribbean.
in fact, read the pandora/panama papers. all that laundering is done via shell companies.