The chapter explores various tax strategies for minimizing taxes, such as geographic arbitrage, tax loss harvesting, long-term capital gains, and the installment method for income. It discusses transitioning from earning to owning assets for long-term capital gains and borrowing against appreciated stock. The chapter also delves into the ethics of tax avoidance, the accumulation of extreme wealth, and personal approaches to wealth allocation and charitable giving.
Scott shares his thoughts on Volkswagen’s investment in Rivian and why he thinks the electrical vehicle industry is entering the “Valley of Death”. Then Scott and Ed discuss JPMorgan’s tax management business and Scott breaks down different tax avoidance strategies he thinks more young people should know about.
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