Tax

12 tactics America's wealthiest use to save big on taxes, from putting mansions in trusts to stashing fortunes for a 1,000 years

Tech Insider
A house surrounded by stacks of cash and piggy banks

ivanastar/Getty, akurtz/Getty, DNY59/Getty, Tyler Le/BI

Thanks to tax cuts made during the first Trump administration, Americans can give or hand down about $13 million in assets without paying federal estate tax. Only 0.2% of taxpayers have to worry about this tax, and they hire top-notch accountants and lawyers to pay as little as possible.

Elon Musk took the stage at a Trump rally to talk about taxes and the 'Department of Government Efficiency'

Tech Insider : Politics
Elon Musk gestures as he steps onstage during a rally for former US President Donald Trump.
Elon Musk on Sunday gave a brief speech at a campaign rally for Donald Trump in New York.

ANGELA WEISS/AFP via Getty Images

Rich entrepreneurs looking to cash out can save big on taxes by gifting stock to their parents and getting it back when they die

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Closeup low angle view of mid 60's man and his son enjoying summer holiday on a sailboat. They are sitting on the deck, looking at the distance, talking and laughing.
Upstream planning allows the rich to save on taxes while keeping assets in the family.

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Kamala Harris' tax plan for small businesses sounds like it will cost a lot of money — it won't

Tech Insider : Politics
Kamala Harris speaking Michigan about her economic plans
Harris has made supporting small businesses a key part of her economic proposal.

JEFF KOWALSKY / AFP

The door is slamming shut on a $50 billion tax loophole used by the superrich

Tech Insider : Economy
Treasury Secretary Janet Yellen, wearing a black jacket, appears before a senate hearing on Capitol Hill.
Janet Yellen.

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How much Bill Gates pays in property taxes on his pricey real estate portfolio

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Bill Gates; Seattle Home
Bill Gates paid more than $1.3 million in property taxes on his Medina, Washington, home last year.

Bennett Raglin/Getty Images for The New York Times; Dan Callister/Newsmakers

New York and other states are using AI to hunt down wealthy remote workers and demand more tax

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remote worker
Stock image of a remote worker.

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Anyone want to pay an extra 50% for their Spotify subscription? This bill would make it mandatory.

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Taylor Swift performs during
Taylor Swift doesn't need any more money. Would you pay an extra streaming fee for musicians who do need a boost?

Ashok Kumar/TAS24

Tesla Didn’t Pay Any Federal Income Taxes for 5 Years, Got $1 Million Tax Refund

Gizmodo

Tesla, the company helmed by one of the richest men on the planet, is a cheapskate when it comes to paying taxes, according to a new report released on Wednesday. In fact, the company paid exactly $0 in federal income taxes over a five-year period and even managed to get a nice refund.

5 ways to lower your portfolio's tax bill as government debt bites, BofA says

Tech Insider
us debt clock 2023

Selcuk Acar/Anadolu Agency via Getty Images

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