November 25, 2024 / Press
Robert Strauss Discusses Tax Reduction Strategies for the Wealthy in Business Insider
Robert Strauss recently spoke to Business Insider for an article discussing tactics ultrawealthy taxpayers use to limit their payments as much as possible. According to the piece, entitled “12 tactics America’s wealthiest use to save big on taxes, from putting mansions in trusts to stashing fortunes for a 1,000 years,” the 0.2% of ultra-wealthy Americans who are required to pay federal estate tax on more than $13 million of inherited wealth use the expertise of accountants and lawyers to save as much as they can after Trump-era tax cuts.
The article delves into 12 methods the ultra-rich use to lower their taxes, including using qualified personal residence trusts, or “QPRTs,” to pass down homes, taking advantage of trusts that last up to 1,000 years, and transferring business assets to family-limited partnerships.
“This is a wealthy person’s playground problem,” Rob tells Business Insider.
To read the full article, click below.