Some of Wall Street’s richest and most powerful figures are using a legal loophole to avoid paying millions of dollars in taxes earmarked for health care, a ProPublica investigation found.
You will have to scroll to get to the good parts, but it’s worth it. It involves funneling all your earnings to a limited partnership, and then the LP pays you. The IRS was going to fix the loophole until Steve Forbes and Rush Limbaugh got involved. 🤮
Bonus grossness: LPs require two stakeholders. To work around this, your second partner can be a corporation you have created. Because ya know, “corporations are people”.
You will have to scroll to get to the good parts, but it’s worth it. It involves funneling all your earnings to a limited partnership, and then the LP pays you. The IRS was going to fix the loophole until Steve Forbes and Rush Limbaugh got involved. 🤮
Bonus grossness: LPs require two stakeholders. To work around this, your second partner can be a corporation you have created. Because ya know, “corporations are people”.