This morning’s New York Times had a great story about how the management of the buyout firm Blackstone Group used smart tax strategies to pay $553 million in taxes in return for tax savings with a present value of $751 million.
This reminds me of a story my taxes in finance professor talked about in class about how the late cosmetic entrepreneur Estee Lauder employed tax strategies that succeeded in passing her assets onto her heirs without triggering the inheritance tax. Not only did her heirs not owe a dime in taxes, they received a tax refund over the next number of years.
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