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Originally Posted by XutvJet
Would 49 be considered "a youngster". I work on the risk evaluation side of US and international mergers and acquisitions, thus I need a fairly good understanding of how LLCs, Inc., etc. work and the legal protections and implications.
We're not talking about how governments manage their tax revenues. We're talking about wealthy individuals gaming the system.
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So you contributing to a 401k - is that “gaming” the system?
Poor folk definitely can’t afford that. How about a 529 plan for your poor Junior so he can go to college?
Point is where do you draw the line with rich/wealth and regular folks. Everyone can use these tax advantages. Its called Google or paying a CPA / tax attorney for advice.
BTW no entity games the system more than the Government. They create new policies all the time to raise tax revenue.