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.
do you honestly not know how income tax works? this means that he's spending his existing assets
that some of them are appreciating is completely irrelevant for tax purposes
he doesn't take a salary, and he is not selling stock in the years he pays no income tax
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