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When You re A Billionaire, Your Hobbies Can Slash Your Tax Bill

Thoroughbred horses, auto racing, massive ranches, luxury hotels. The hobbies and side businesses of the ultrawealthy create huge write-offs.

Marshall fieldUnited statesNew yorkSan diegoLos angelesNew yorkerWilliam kostakKevin kalkhovenSeth klarmanMarlon brandoJimmy stewartSanta barbaraCharlotte weberErrol flynnBrad kelleyPeter reilly

When You re a Billionaire, Your Hobbies Can Slash Your Tax Bill — ProPublica

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.

Marshall fieldUnited statesNew yorkSan diegoLos angelesNew yorkerJimmy stewartCharlotte weberBrad kelleySeth klarmanBrian gallePeter reillyLos angeles timesCommunity chestSan diego unionKentucky derby

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