How Wealthy Billionaires And Corporations Avoid Short-Term Capital Gains Tax! Pt 4
This video explains that over $160 billion in annual tax revenue is lost because ultra-wealthy individuals and corporations avoid short-term capital gains taxes. To avoid these taxes, ultra-high net worth individuals (UHNWIs) with at least $30 million invested for the long-term offset gains with capital losses. The tax system in the US encourages long-term investments by offering lower tax rates for long-term capital gains. UHNWIs use day trading using the Mark to Market method, tax loss harvesting, 1031 exchange, charity, buying and holding small business stocks, and hoarding to avoid short-term gains. By using these methods and holding assets for a year or longer, UHNWIs significantly reduce their tax liability.
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This is a Clip from the Vlog "r/IRS Questions," which hopes to provide a steady path of information for the /r/IRS Reddit community and anyone interested in tax compliance. This channel also features the latest Internal Revenue Service news, IRS commentary, and tips from tax expert John R. Dundon.
www.reddit.com/r/IRS
www.JohnRDundon
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