i'd thought the standard way would be to borrow heavily and invest in other financial assets. Then the interest payment would be paid out pre-tax, thus reducing your tax liabilities down to a manageable level.
The financial assets will return money in the future, but much more slowly, and get preferential tax treatment compared to direct income (such as long term capital gains tax discounts).
When you have $7mil in cash (and expectation of more in the future), there would be options not available to lower net worth people i suppose?
The financial assets will return money in the future, but much more slowly, and get preferential tax treatment compared to direct income (such as long term capital gains tax discounts).
When you have $7mil in cash (and expectation of more in the future), there would be options not available to lower net worth people i suppose?