Posts Tagged
tax shelters
Want to Avoid U.S. Taxes on a Warhol? Keep Buying Art
©2015 Bloomberg News NNHRUH6K50YH (Bloomberg) — Chicago plastics manufacturer Stefan Edlis faced more than $20 million in U.S. capital gains taxes by selling his Andy Warhol painting to billionaire Steven A. Cohen eight years ago. He paid zero. Half of the proceeds from the $80 million sale of Warhol’s 1964