I get the usual tax avoidance stuff.
They pay long term capital gains instead of income tax. They'll borrow against assets. They'll do tax write offs to a charitable foundation whose real purpose is to pay friends and family.
What I don't get is how they avoid property tax.
Are they really paying millions and millions continuously for palatial mansions that are already bought and paid for?
I kinda doubt it.
But how would they avoid it?
Do they have them registered as synagogues or something?
I get the usual tax avoidance stuff.
They pay long term capital gains instead of income tax. They'll borrow against assets. They'll do tax write offs to a charitable foundation whose real purpose is to pay friends and family.
What I don't get is how they avoid property tax.
Are they really paying millions and millions continuously for palatial mansions that are already bought and paid for?
I kinda doubt it.
But how would they avoid it?
Do they have them registered as synagogues or something?
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