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by cheriot
1836 days ago
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Someone sufficiently wealthy can push off taxes until they die and their heirs can use the step up basis[1] to avoid them entirely. There's also a huge advantage in the ability to choose when one wants to pay taxes even if they eventually do get paid. Buffet loves to talk about unrealized gains as a loan from Uncle Sam at zero percent interest. [1] https://www.investopedia.com/terms/s/stepupinbasis.asp |
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