Friday, September 23, 2016

Some Estates Are More Equal Than Others

Taxes for thee, not for me and mine:
Hillary Clinton and her husband Bill have created a number of tax shelters in recent years to dramatically limit their payment of the very same tax. As Bloomberg reported back in 2014: “To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth.”

In 2010 the Clinton created “residential trusts” and the following year moved their Chappaqua estate into the trust, according to their financial records. As David Scott Sloan, a partner at the firm Holland Knight explained the Clinton trust to CBS News, “You’re creating things that are going to be on the nontaxable side of the balance sheet when they die.”

The move will save the Clintons hundreds of thousands of dollars in estate taxes, according to accountants quoted by Bloomberg.
More money for the Foundation?

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There Goes The Sun

Here comes the eclipse: