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When You’re a Billionaire, Your Hobbies Can Slash Your Tax Bill — ProPublica
https://www.propublica.org/article/when-youre-a-billionaire-your-hobbies-can-slash-your-tax-bill
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Thoroughbred horses, auto racing, massive ranches, luxury hotels. The hobbies and side businesses of the ultrawealthy create huge write-offs that can let them get away with paying little or no income tax for as much as a decade at a time.
