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Expensive tax break deals common for stars in Hollywood
Hollywood stars use real estate to shelter income from taxes. Rock Hudson paid 474 for a 158 acre Per ris Riverside County farm leased back to Bonnie and Clyde Smith, a common strategy. Real estate purchases serve to defer taxes, with five year prepaid interest deductions and hard cash kept small. Beverly Hills broker Mike Silverman notes that conditions must favor development and duration before principal payments begin. He adds a waiting list of film figures ready to invest when suitable land appears.
MENTIONED IN THIS ARTICLE
Bob Thomas
Hollywood (Ap
Rock Hudson
Hudson
Perris
Riverside County
Bonnie and Clyde Smith
Dean Martin
Bob Hope
California
Hollywood
Beverly Hills
Mike Silverman
Silverman