Trumps ultrawealthy picks face a huge tax hit to join his Cabinetbut can avoid it thanks to this little known provision

Image for article Trumps ultrawealthy picks face a huge tax hit to join his Cabinetbut can avoid it thanks to this little known provision
News Source : Fortune

News Summary

  • A number of prominent Wall Street executives are joining the Trump administration, a career move that could see them incur a big tax bill if they are required to sell assets
  • Fortunately for the executives, there is a little known tax provision that can soften the financial blow of becoming a government employee
  • The provision is known as a certificate of divestiture
A number of prominent Wall Street executives are joining the Trump administration, a career move that could see them not only forgo millions in compensation, but also incur a big tax bill if they are [+5284 chars]

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