Help, Please- Looking for tax info

[JohnnyAmerica]

I am doing some research on tax loopholes and I was wondering if you know of any good sites out there that would have specific info on types and tax savings. I am curious about how much the rich save by using these loopholes. Also, do you know of any corporate loophole sites?
Thank you in advance.
Whenever I need help I come here, and there it is.

[papau]

1. Tax loopholes are developed and sold to the rich at a million to 5 m

a pop.

I learned via working with Wall Street and the Banks in Europe.

There are loopholes for the common man - indeed a few good books - but the major games that hide a billion at a time are not in print anywhere - mainly because they have a rather short shelf life (rules change)- which will be shorter now that the rules are that the legal opinion must be better than 51/49 OK - or you must disclose to the IRS.

The game is to note how the tax law varies from Country to country - depreciation is worthless here - but valuable there - so you struction so as to in effect be selling only the depreciation - since there are so many sellers the seller get 10 cents on a dollar for an item otherwise worthless, and the buyer excapes a few billion in taxes via a transaction too complicated for auditors.

The key is file the lower tax number - rarely go back and restate prior years for a refund via one of these transactions as the Congress must agree with each large refund!

Private empires like Kissinger are fun to review because almost nothing gets taxed. Public firms are interesting if you run 10 or 15 years - check the auto companies, and note the size of depreciation compared to asset investments. And even when they get caught trying for a few hundred million off the top - the IRS compromise shows them being hit with only a fraction of the claim.

[nothingshocksmeanymore]

2. Thanks Papau! Boy do I miss it when you take a day off!

:hi: