That is the dream.
But remember that the IRS doesnt care much about the 90%. They DO care about the 0.1%.
Doing something like that is a high risk way of getting audited.
But remember that the IRS doesnt care much about the 90%. They DO care about the 0.1%.
Doing something like that is a high risk way of getting audited.
The 0.1 have access to the very best tax advisors money can buy (and probably some IRS insider info as well).
https://www.propublica.org/article/after-budget-cuts-the-irs...
If you make a seemingly reasonable decision, even with an ultimate (very) beneficial tax outcome, there is not much that can be challenged if no laws have been broken.
Add to that the army of lawyers that on meaningful cases will keep pushing things out forever, and you should have an understanding as to why tax authorities around the world do not like to challenge the very wealthy that much. They often also control companies and assets that employ people, which can be used as leverage in negotiations.