Tax | iCloud.Info

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

Sat, 11/23/2024 - 08:06

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.

finance, Investing, limited-synd, finance, real-estate, tax-planning, wealth-management

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

Mon, 10/28/2024 - 16:54

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

politics, insider-news, elon-musk, donald-trump, campaign-rally, Tax, Taxes

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

Tue, 10/15/2024 - 14:11

Tech Insider

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.
gilaxia

finance, Taxes, Stocks, real-estate, finance, limited-synd, wealth-management

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

Sat, 10/05/2024 - 05:36

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

politics, kamala-harris, small-business, Tax, Startup, 2024-presidential-election

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

Mon, 06/17/2024 - 15:02

Tech Insider : Economy

Treasury Secretary Janet Yellen, wearing a black jacket, appears before a senate hearing on Capitol Hill. — Janet Yellen.
Andrew Harnik/Getty Images

economy, Treasury, IRS, Tax

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

Mon, 04/22/2024 - 15:10

Tech Insider

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

Real Estate, bill-gates, real-estate, wealth-news, Billionaires, Tax

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

Tue, 04/16/2024 - 07:24

Tech Insider

Stock image of a remote worker.
Getty Images

AI, Tech, News, news-uk, AI, Tax, finance

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

Thu, 03/28/2024 - 17:27

Tech Insider

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

Media, Tech, Streaming, Music, Congress, Tax, spotify

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

Thu, 03/14/2024 - 10:50

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.