The short paper here is about what “loopholes” should be closed to raise revenue. Consequently, it is also a great guide to those perfectly legal strategies. Many of these may be closed eventually, but until then it’s a good guide. Here’s the list of strategies:
- Zeroed-out GRATS
- Minority interest discounts
- Gifts over bequests (tax exclusive vs. tax inclusive if done more than three years before death)
Also, see this. While written from an anti-wealth perspective, the wealthy (and those who intend to join them) can view it optimistically: punitively high taxes have always been avoidable and avoided.