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14 hours ago

Some rich Californians are giving away cash to skirt the state's proposed billionaire tax

Rather than hand over their fortunes to the California state government, wealthy Californians are finding creative, tax-efficient ways to minimize potential billionaire-tax impact — including giving their money away.Some high-net-worth residents in the Golden State are intentionally reducing their balance sheets through philanthropy or real estate strategies because they do not trust Sacramento to spend their tax dollars effectively, according to a recent Wall Street Journal report."People take steps to take advantage of the tax law before it changes all the time. This is just another example...