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0 pointsthrow0101a3y ago0 comments

> If you lie on your tax returns then you have much bigger issues than college admissions counselors.

If you own a large amount of equities you can get a secured loan on those holdings and use it to pay your bills while taking zero salary. This allows folks to live fancy lifestyles without selling holdings and triggering capital gains:

* https://www.cnbc.com/2021/07/13/portfolio-loans-can-be-one-w...

The loan is not counted as income.

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WalterBright3y ago

At some point the loan gets paid, and then the income taxes apply.

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