Re:ProPublica's tax story
by ttul on Tuesday June 08, 2021 @09:46PM
(#27443309)
Well, I think the strategy is to keep balancing your gains and losses to minimize taxes until you die, by which point you’ve transferred all your wealth out tax-efficiently through trusts.
[ Parent
| on HN ]
...by taking out loans and not paying them back? I'm not sure why any bank would sign up for that.
Re:ProPublica's tax story
by triceratops on Wednesday June 09, 2021 @12:34AM
(#27444245)
A HELOC is one example of a loan whose principal never needs to be paid off. As long as you keep making interest payments and the house keeps its value, the bank is happy.