In this episode of Business for Breakfast, the hosts discuss various strategies that wealthy individuals use to avoid paying taxes legally. They explore the differences between tax avoidance and tax evasion, the importance of maximizing retirement accounts, and the benefits of defined benefit plans. The conversation also covers how high earners can utilize borrowing against investments, loss harvesting, and real estate depreciation to minimize their tax liabilities. Additionally, the hosts touch on the role of charitable donations in tax planning for the wealthy. The discussion also covers various tax strategies that wealthy individuals use to minimize their tax liabilities, including the use of life insurance and tax-efficient funds.

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