florduh
Well-Known Member
I'm curious how many people know about the "buy, borrow, die" strategy
Buy expensive assets like stock, real estate, or artwork
Borrow money using the assets as collateral. Live off of the borrowed money.
Die... and utilize friendly tax policy to transfer the assets to heirs who don't have to pay capital gains taxes
I have a different policy that includes Die as a solution to this problem, but you Libs won't like it, so I suggest closing this loophole ASAP
Buy expensive assets like stock, real estate, or artwork
Borrow money using the assets as collateral. Live off of the borrowed money.
Die... and utilize friendly tax policy to transfer the assets to heirs who don't have to pay capital gains taxes
I have a different policy that includes Die as a solution to this problem, but you Libs won't like it, so I suggest closing this loophole ASAP