10 ways billionaires avoid taxes

Let’s take a look at the several ways that billionaires use to avoid taxes.

1. Build, Drill and Save: The Real Estate and Oil Businesses Can Both Be Tax Havens

Stephen Ross, a real estate developer and the owner of Miami Dolphins, went ten years without paying any income tax. This is because of the fact that in various fields such as real estate, there are numerous tax breaks which allows billionaires like Ross to show a net negative income while making huge profits. In addition, there are also oil companies who were able to write off taxes taking the advantage of one of the biggest oil spills in history.

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