Taxes
The Very Rich Already Have a Plan to Escape Biden’s Tax Increase
A strategy called private placement life insurance is a loophole that one policy expert says is ‘entirely legal, easy to exploit, and politically very hard to close.’
How the Rich Plan to Avoid Biden’s Tax Hike
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Wealthy Americans are scrambling for places to hide from plans by Democrats to hike their taxes. Many on Wall Street think they’ve found just the thing.
A niche strategy called private placement life insurance, or PPLI, was already gaining popularity among the very rich for its ability to shield fortunes from taxes. Now some advisers to the top 0.1% say it’s dominating conversations with their clients.