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Superyacht “Attessa IV” For Sale

• By Yachting Staff
• January 1, 2024

Merle Wood & Associates has listed the 332-foot Attessa IV for sale at an asking price of more than $164 million. It’s a yacht with a storied history as one of the most significant rebuilds ever undertaken in the global yachting community.

Until 2007, this same yacht was known as the 298-foot Evergreen , built by a commercial shipyard in Japan. American billionaire Dennis Washington—whom Forbes described as having had an early love of machinery, and who turned a $30,000 loan into companies focused on shipbuilding, railroads, demolition, mining and more—took notice when the owner wanted to sell.

But the idea wasn’t to use the yacht in anything remotely resembling its original form. Washington wanted a total rebuild from the tender garage to the foredeck, gutting everything from the main deck up, and totally reconfiguring the vessel for use as a private yacht more in keeping with what’s expected in regions such as the Mediterranean and Caribbean.

The rebuild, undertaken in Vancouver, Canada, was completed in 2010. Accommodations on Attessa IV are now for as many as 18 guests in nine staterooms. The master includes his and hers dressing rooms, a private office, a private salon, private outdoor dining and a private deck for arriving and departing by helicopter. That helipad is in addition to a second, touch-and-go helipad that is located on the yacht’s bow.

Onboard amenities include a spa with a beauty salon, massage, a steam room and a gym. The beach club abaft the gym has a hot tub and seating area, while up top on the sundeck, there’s a pool with a shallow section for children. The main deck includes a cinema, and there’s an elevator for guests to access the lower deck through the sky lounge.

The yacht also has quarters for 28 crew. And, just in case extra security is a concern, Attessa IV is built to be bulletproof. The yacht has a Kevlar-lined steel hull and superstructure, along with windows built of bulletproof glass.

Attessa IV is built to be a world cruiser, with a reported range of more than 7,000 nautical miles. Top speed is listed as 25 knots, and draft is a hair over 15 feet. The diesel power plants are by Wartsila.

Where is Attessa IV located for showings? The yacht is currently in the area of Cabo, Mexico.

Take the next step: contact sales broker Merle Wood at merlewood.com

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Yachts for sale at 26 north yachts  .

Welcome to 26 North Yachts, an exclusive yachting website where you can find an extensive collection of yachts for sale and charter . We pride ourselves on our worldwide database with available yacht sales and charters and look forward to helping you find the perfect yacht for your needs.

As you can see above, our website makes it easy to search yachts and yacht brands easily, regardless of the location of the boat, its price, or other characteristics. We are partnered with leading shipping providers to help you find the best new yachts for sale, explore the largest fleet, and plan your yacht purchase.

Buying and selling boats have never been more accessible, no matter what length, price, market, or unique features you are looking for in the search results. Our primary expertise is to connect buyers with yacht sellers and ensure a safe purchase.

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Whether you are looking for a catamaran, a Sunseeker , a superyacht , or a boat for a couple of guests, you can rely on our team of experts managing our website and narrow down your search for the best yachts for sale. We know that finding the right boat is never easy and that the market is limited – however, our range of boats for sale and details for each listing make it easy to buy or sell a boat or shop for listings online.

We work with numerous brokers responsible for a smooth yacht delivery process and a service designed to take care of all aspects from A to Z with minimal wear and tear. We can help you get into the yachting lifestyle quickly and offer a service that will deliver your vessel from any location to anywhere in the world in a straightforward and timely manner.

At 26 North Yachts, we are dedicated to helping each buyer or seller find a listing within their budget or sell their boat for a reasonable price. Thanks to our dedication and longstanding relationships with yacht buyers and sellers, we have access to more listings and continuously update our website. Simply put, our mission is to help you find the perfect yacht or sell your yacht to the right buyer quickly and easily.

Motor and Sailing Yachts For Aspiring Owners  

Here, you can search for everything and browse yacht sales from different locations worldwide. We strive to feature the finest yachts and boats from premium names – our collection also features yachts for sale from legendary names and some well-known explorer boats on the market.

Buying a motor yacht is now easy – our team at 26 North Yachts can match your needs with a listing that has the right price, is on sale, and give you proper guidance and support during the buying process.

You can now buy a yacht for yourself or as a present for your family. Owning a superyacht has never been easier – all you need to do is check out the market, search for a yacht, agree on the right price, and organize the delivery and available shipyards worldwide.

If you used the search filters but cannot find a yacht matching your needs in the results, make sure to expand on your search and consider similar products. Also, keep in mind that continuous updates and new listings are part of the service we provide – so that you can revisit our website, find a yacht and only agree on a price when you are ready to buy it.

For Sale Yachts With Worldwide Delivery  

Suppose you are looking for luxury yachts and want delivery to your location. In that case, you should know that we are partnering with organizations that ensure a smooth boat sale with delivery included in the price. The boats for sale on our website are from different locations worldwide. Still, you can lock in the best price and get your yacht delivered to your location in Fort Lauderdale, other parts of Florida (FL), or internationally.

You can use the filters on our website to shop for a range of yachts, see the boats listed most recently by date, or save them in your browser’s bookmarks so that you can revisit our website. Owning a superyacht is certainly one of the best feelings in the world, and our team is here to make your search for your yacht easy.

Buying a yacht is one of the best decisions you will make in your life, and finding it from a collection of yachts on sale is undoubtedly a deal you can agree on. No matter the length of the yacht, its features, or the specific make and model, we are here to support you and show you our commitment to finding the best yachts for sale for your needs.

Our Quick Tips For Buying A Yacht  

You are not alone if you want to take your boating to the next level and invest in a new or used yacht . The yachting industry is growing year by year, and here are some of the most essential tips you will need directly from our yacht-buying guide:

Deciding on the correct type of boat –

Length and price would be some of the primary filters; knowing that there are hundreds of makes and models out there makes choosing a yacht tricky.

Setting a budget –

As we said above, having a budget for your boat is essential, but also make sure to include money for insurance, fuel, ongoing maintenance, and storage throughout the year.

Decide on additional equipment –

Nowadays, yachts have many distinctive features, such as grills, freezers, washers and dryers, air conditioning, etc.

Read some reviews –

Online reviews are great and can help ease your yacht-buying process.

Ask for a trial –

You can always contact us as your yacht seller and ask for a sea trial, which is essentially a test drive for your yacht.

Use licensed and well-known yacht brokers –

If you are in the market for a yacht, we always recommend working with our professionals at 26North, that can arrange everything for your needs.

About Us 26 North Yachts – Luxury Yachts For Sale  

Now that you have seen our site, we have the latest boat models available in Miami and super yachts for sale . You can submit your inquiry, and one of our representatives will contact you shortly. We also accept payments in different currencies and also cryptocurrencies.

Once you have found a boat you see fit for your needs, save the project, and we will contact the seller to ask whether they have a special price. With hundreds to thousands of luxury yachts for sale , we are one of the best yachting sites worldwide that commit to featuring stunning yachting products known for their aesthetics.

At 26 North Yachts, we have sailed, worked, and raced on motor yachts across different continents. Our love for yachts is real, and we know how difficult it can be to find a dream yacht on sale. That is why we dedicated ourselves to improving the yacht market and are seen as a valuable contributor to the worldwide yachting industry. We work with numerous brokers worldwide.

So, if you are looking for the finest yachts for sale or charter or want to browse boats and superyachts and plan your future purchase, our team is here to provide you with the best selection of yachts from everywhere around the world.

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10 of the most impressive superyachts owned by billionaires

From a sailing yacht owned by a russian billionaire industrialist to the luxury launch of the patek philippe ceo, here are the best billionaire-owned boats on the water….

Words: Jonathan Wells

There’s something about billionaires and big boats . Whether they’re superyachts or megayachts, men with money love to splash out on these sizeable sea-going giants. And that all began in 1954 — with the big dreams of Greek shipping magnate Aristotle Onassis.

Onassis, keen to keep his luxury lifestyle afloat when at sea, bought Canadian anti-submarine frigate HMCS Stormont after World War II. He spent millions turning it into an opulent super yacht, named it after his daughter — and the Christina O kicked off a trend among tycoons. To this day, the world’s richest men remain locked in an arms race to build the biggest, fastest, most impressive superyacht of all. Here are 10 of our favourites…

Eclipse, owned by Roman Abramovich

Built by: Blohm+Voss of Hamburg, with interiors and exteriors designed by Terence Disdale. Launched in 2009, it cost $500 million (the equivalent of £623 million today).

Owned by: Russian businessman Roman Abramovich, the owner of private investment company Millhouse LLC and owner of Chelsea Football Club. His current net worth is $17.4 billion.

Key features: 162.5 metres in length / 9 decks / Top speed of 22 knots / Two swimming pools / Disco hall / Mini submarine / 2 helicopter pads / 24 guest cabins

Sailing Yacht A, owned by Andrey Melnichenko

Built by: Nobiskrug, a shipyard on the Eider River in Germany. The original idea came from Jacques Garcia, with interiors designed by Philippe Starck and a reported price tag of over $400 million.

Owned by: Russian billionaire industrialist Andrey Melnichenko, the main beneficiary of both the fertiliser producing EuroChem Group and the coal energy company SUEK. Though his current net worth is $18.7 billion, Sailing Yacht A was seized in Trieste on 12 March 2022 due to the EU’s sanctions on Russian businessmen.

Key features: 119 metres in length / 8 decks / Top speed of 21 knots / Freestanding carbon-fibre rotating masts / Underwater observation pod / 14 guests

Symphony, owned by Bernard Arnault

Built by: Feadship, the fabled shipyard headquartered in Haarlem in The Netherlands. With an exterior designed by Tim Heywood, it reportedly cost around $150 million to construct.

Owned by: French billionaire businessman and art collector Bernard Arnault. Chairman and chief executive of LVMH, the world’s largest luxury goods company, his current net worth is $145.8 billion.

Key features: 101.5 metres in length / 6 decks / Top speed of 22 knots / 6-metre glass-bottom swimming pool / Outdoor cinema / Sundeck Jacuzzi / 8 guest cabins

Faith, owned by Michael Latifi

Built by: Similarly to Symphony above, also Feadship. With exteriors designed by Beaulieu-based RWD, and interiors by Chahan Design, it cost a reported $200 million to construct in 2017.

Owned by: Until recently, Canadian billionaire and part-owner of the Aston Martin Formula 1 Team , Lawrence Stroll. Recently sold to Michael Latifi, father of F1 star Nicholas , a fellow Canadian businessman with a net worth of just under $2 billion.

Key features: 97 metres in length / 9 guest cabins / Glass-bottom swimming pool — with bar / Bell 429 helicopter

Amevi, owned by Lakshmi Mittal

Built by: The Oceanco shipyard, also in The Netherlands. With exterior design by Nuvolari & Lenard and interior design by Alberto Pinto, it launched in 2007 (and cost around $125 million to construct).

Owned by: Indian steel magnate Lakshmi Mittal, chairman and CEO of Arcelor Mittal, the world’s largest steelmaking company. He owns 20% of Queen Park Rangers, and has a net worth of $18 billion.

Key features: 80 metres in length / 6 decks / Top speed of 18.5 knots / On-deck Jacuzzi / Helipad / Swimming Pool / Tender Garage / 8 guest cabins

Odessa II, owned by Len Blavatnik

Built by: Nobiskrug, the same German shipyard that built Sailing Yacht A . Both interior and exterior were created by Focus Yacht Design, and the yacht was launched in 2013 with a cost of $80 million.

Owned by: British businessman Sir Leonard Blavatnik. Founder of Access Industries — a multinational industrial group with current holdings in Warner Music Group, Spotify and the Grand-Hôtel du Cap-Ferrat — he is worth $39.9 billion.

Key features: 74 metres in length / 6 guest cabins / Top speed of 18 knots / Intimate beach club / Baby grand piano / Private master cabhin terrace / Outdoor cinema

Nautilus, owned by Thierry Stern

Built by: Italian shipyard Perini Navi in 2014. With interiors by Rémi Tessier and exterior design by Philippe Briand, Nautilus was estimated to cost around $90 million to construct.

Owned by: Patek Philippe CEO Thierry Stern. Alongside his Gulstream G650 private jet, Nautilus — named for the famous sports watch — is his most costly mode of transport. His current net worth is $3 billion.

Key features: 73 metres in length / 7 guest cabins / Top speed of 16.5 knots / Dedicated wellness deck / 3.5 metre resistance pool / Underfloor heating / Jet Skis

Silver Angel, owned by Richard Caring

Built by: Luxury Italian boatbuilder Benetti. Launched in 2009, the yacht’s interior has been designed by Argent Design and her exterior styling is by Stefano Natucci.

Owned by: Richard Caring, British businessman and multi-millionaire (his wealth peaked at £1.05 billion, so he still makes the cut). Chairman of Caprice Holdings, he owns The Ivy restaurants.

Key features: 64.5 metres in length / Cruising speed of 15 knots / 7 guest cabins / Lalique decor / 5 decks / Oval Jacuzzi pool / Sun deck bar / Aft deck dining table

Lady Beatrice, owned by Frederick Barclay

Built by: Feadship and Royal Van Lent in 1993. Exteriors were created by De Voogt Naval Architects, with interiors by Bannenberg Designs. She cost the equivalent of £63 million to build.

Owned by: Sir David Barclay and his late brother Sir Frederick. The ‘Barclay Brothers’ had joint business pursuits including The Spectator , The Telegraph and delivery company Yodel. Current net worth: £7 billion.

Key features: 60 metres in length / 18 knots maximum speed / Monaco home port / Named for the brothers’ mother, Beatrice Cecelia Taylor / 8 guest cabins

Space, owned by Laurence Graff

Built by: Space was the first in Feadship’s F45 Vantage series , styled by Sinot Exclusive Yacht Design and launched in 2007. She cost a reported $25 million to construct.

Owned by: Laurence Graff, English jeweller and billionaire businessman. As the founder of Graff Diamonds, he has a global business presence and a current net worth of $6.26 billion.

Key features: 45 metres in length / Top speed of 16 knots / Al fresco dining area / Sun deck Jacuzzi / Breakfast bar / Swimming platform / Steam room

Want more yachts? Here’s the handcradfted, homegrown history of Princess…

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Officials said last month it costs $600,000 — but there's also insurance and dry-docking fees.

Another Russian billionaire is claiming ownership of the yacht and opposing attempts to sell it.

A Russian oligarch's megayacht is costing taxpayers almost $1 million a month after the government seized it, court filings say.

US officials say the $300-million Amadea is owned by Suleiman Kerimov , a sanctioned Russian billionaire. It has a helipad, a swimming pool, and a movie theater on board.

The 348-foot vessel was first seized by authorities in Fiji in April 2022. It's now docked in San Diego, but the government wants to sell it due to huge maintenance costs.

Related stories

Last month, an assistant chief in the US Marshals Service said the Amadea was costing the government about $600,000 a month .

That's made up of $360,000 for crew salaries; $75,000 for fuel; and $165,000 for maintenance, waste removal, food for the crew, and miscellaneous expenses.

But a Friday court filing seen by Business Insider says there are actually even more costs that bring the total monthly bill up to $922,000.

It costs $144,000 to insure the megayacht, and dry-docking fees of $178,000 a month, the filing says.

The legal battle over the Amadea involves another Russian billionaire, Eduard Khudainatov, who claims he, not Kerimov, is the owner of the yacht.

Lawyers for Khudainatov, who is not sanctioned, have objected to the government's attempts to sell the Amadea.

According to CNBC, which first reported on Friday's filing, Khudainatov has offered to reimburse the government for the $20 million it has already spent maintaining the yacht if it's returned to him.

However, as long as the government continues trying to sell the Amadea, he won't pay the costs, CNBC reported.

Watch: Putin's $51 billion Sochi plan blew up in his face

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The billionaire’s guide to doing taxes

How the very rich lose money, overvalue art, buy very expensive life insurance, and somehow profit.

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Do you want to pay less taxes? Great. Step one, be a rich person. Then, buy a yacht. Or a sports team. Give a lot to charity. Lose some money in the stock market . Above all, make sure most of your money exists in the form of assets, not cash — stocks, real estate, a Dutch master painting, fine jewelry, or whatever else strikes your fancy.

They say that money is a universal language, but it speaks at different volumes. When you have a fathomless bounty of wealth, money doesn’t quite register as an expense until you add a lot of zeros to the end — so spending a lot to save a lot is a no brainer. It’s why the mega-rich often hire expensive tax lawyers, wealth managers, or even set up a whole office dedicated to tax strategy. “It’s not just preparing the return,” says Paul Wieseneck, a tax accountant and director of the Fuoco Group. “There’s so much more involved in planning, in accumulating, offsetting, and trying to mitigate the taxes as best as possible.”

For the rich, taxes aren’t a springtime affair with a quick visit to H&R Block, but a year-round endeavor.

How much tax a wealthy person owes in a given year is a complex tapestry threaded with exemptions, deductions, credits, and obscure loopholes you’ve never heard of. The ideal is to owe zilch. If that sounds impossible to achieve, just look at the leaked tax returns of the wealthiest Americans that nonprofit news site ProPublica analyzed in 2021: Over several years, billionaires Elon Musk , Jeff Bezos , and Michael Bloomberg, among others, paid no federal income taxes at all.

How do they do it? Here are some basic rules they live by.

Don’t take a paycheck

If your income is earned through wages paid to you by an employer, chances are your taxes are on the simpler side of the spectrum. Not as simple as it is for wage earners in other countries , where the government simply tells you how much you owe, but getting a paycheck from your boss means your taxes are automatically withheld each pay period. Filing your tax return might be as easy as filling out one form.

You can pick and choose which deductions to take (like for student loan interest, or for having a home office), but the vast majority of households take the simpler standard deduction, which this year erases $14,600 from your tax bill. For tax year 2024, you’ll pay a 37 percent tax on any income you rake in over $609,350. That sounds like it would add up to a sizable amount for multimillionaires and billionaires — unless that income is just a minuscule share of their increasing wealth.

Jeff Bezos, when he was still Amazon CEO, had a base salary of around $80,000 a year . Elon Musk doesn’t take a salary at all at Tesla . Apple CEO Tim Cook does get a $3 million salary, but it’s a small slice of the $63 million he received overall last year. Most wealthy entrepreneurs are paid in bountiful stock rewards; Musk is currently fighting to keep his record-breaking Tesla pay package , made up of a bunch of stock options and now valued at almost $56 billion. ProPublica found that, because their income fell below the threshold, at least 18 billionaires got a Covid-19 stimulus check .

Paul Kiel, a ProPublica reporter who was an integral part of the newsroom’s billionaire tax return stories , says the income versus wealth divide was crucial in helping the public understand how differently the wealthy operate. “If you can avoid income as it’s defined in our system, and still get richer, that’s the best route,” he tells Vox.

Stocks aren’t taxed until they’re sold — and even then, what’s taxed is the profit on the sale, called a capital gains tax. Billionaires (usually) don’t sell valuable stock. So how do they afford the daily expenses of life, whether it’s a new pleasure boat or a social media company ? They borrow against their stock. This revolving door of credit allows them to buy what they want without incurring a capital gains tax. Though the “buy, borrow, die” strategy isn’t quite as sweet right now because interest rates are high, a Wall Street Journal piece from 2021 notes that those with $100 million or more could get interest rates as low as 0.87 percent at Merrill Lynch. The taxable value of a stock also resets when it’s passed on to an heir, so that if a wealthy scion chooses to sell their inherited stock, they’d only pay a tax on the increase in value since the original owner’s death.

Plan on losing money

If you do, regrettably, have to sell assets, fret not: just lose a lot of money, too, and pile on the offsets. “We do what’s called tax-loss harvesting,” says Wieseneck, using a simple example to illustrate. Say someone owns Pepsi stock, and it tanks. They sell at a loss, but then buy about the same amount of Coca Cola stock. The Pepsi loss can erase some (or even all, if you play your cards right) of the taxes owed on the gains made on Coca Cola stock.

“During the year we try to accumulate losses,” says Wieseneck. “At the end of the year, if I know you have a capital gain on a sale of a property or a house or another investment, I’ll accumulate some losses for you that can offset [it].” Capital losses don’t also have to be applied in the same year — if you know you’ll be selling more assets next year, you can bank them for later.

It’s illegal to quickly sell and then buy the same stock again — a practice called a “wash sale” — just to save on taxes, but the key word is “same.” Public companies often offer different classes of stock that essentially trade the same, and it’s not hard to trade similar-enough stocks back and forth. Exchange-traded funds (ETFs), for example, are like buckets containing a mix of stocks that can themselves be traded like a stock. A few different ETFs might perform roughly the same on the stock market; a person could sell one ETF and quickly buy another while avoiding the “do not sell and buy the same stock within 30 days” rule.

Play tax rate arbitrage

Another tool in the tax shrinking arsenal: leveraging the differences in tax rates, which vary based on the type of asset and how long someone owned it. Long-term gains — assets held for longer than a year — from the sale of stocks and bonds are taxed at rates as low as zero percent and as high as 25 percent. Short-term gains, meanwhile, can face a tax as high as 37 percent. Collectibles, which include art, antiques, cards, comic books , and more, have a max rate of 28 percent.

The basic strategy here is to always get the lowest tax rate possible for your gains. A favorite tactic of billionaire investor Jeff Yass , according to reporting from ProPublica, is to place bets both for and against large companies, trying to amass a bunch of short-term losses on one end and long-term gains, which already enjoy a lower tax rate, on the other.

Another kind of magic trick is to place high-tax income into lower-tax or no-tax wrappers, which can include things like tax-advantaged retirement accounts. One example is what’s called the private placement life insurance policy, a niche product that only the very wealthiest of the wealthy use. It can cost millions of dollars to set up, so it’s not worth it unless you’re rich, but the premiums a policyholder pays into the policy can be invested in high-growth investment options, such as hedge funds. The money you’d get back if you decide to cancel the policy isn’t taxed, but it’s not even necessary to take the money out. You can borrow money from the policy at low interest rates, and its benefits pass on tax-free to beneficiaries upon the original holder’s death. It’s insurance, says Michael Kosnitzky, co-chair of the law firm Pillsbury Winthrop Shaw Pittman’s Private Client & Family Office practice group, “but it also holds investment assets and, like any permanent insurance policy, the cash surrender value grows tax free.”

A recent report from Sen. Ron Wyden (D-OR), the chair of the Senate Committee on Finance, laid out how big the scheme had gotten, currently sheltering at least $40 billion. The report found that the average net worth of people with such life insurance policies was over $100 million.

Business or pleasure?

When you’re very rich, it’s important to treat everything as a business expense. Private jets are expensive luxuries, but the cost can be fully tax deductible if the plane is mostly being used for business — and what counts as “mostly business” isn’t clear cut. Maybe you take a trip on your jet partly to take a business meeting, but also to spend a few relaxing days in a beautiful getaway spot. Private jet owners often set up LLCs and rent out their planes when they’re not personally using them to take advantage of the tax deduction, reported ProPublica .

In fact, many expensive hobbies of the ultra-rich coincidentally turn into business expenses — yachts, racehorses, golf courses, and more. They’re often run very professionally, says Kiel, “but never quite seem to make a profit.”

“Generally you’re not supposed to write stuff off that’s a hobby,” he continues. “But the wealthier you are, the more your hobbies appear to be businesses or are operated like businesses.”

Despite the ubiquity of this practice, there’s risk to it, especially as the IRS ramps up audits of tax write-offs for private jets . If the wealthy are going to buy exorbitantly expensive yachts and claim it’s being used for a business, says Kosnitzky, “you’d better be on very solid ground.”

Philanthropy pays

Charity is a time-worn way the ultra-rich reduce their taxes — and it has the added bonus of putting a nice luster on their reputation. Many charitable organizations set up by billionaires are tax-exempt, and charitable donations are tax deductible. You can completely control when to make a donation, and of what size, depending on how much taxable income you have in a given year; it’s a nimble method of offsetting taxes.

But the worthiness of charitable deductions can be questionable, because they’re “very, very loosely regulated,” says Kiel. The donations themselves can range from buying mosquito nets to prevent malaria to “paying for your kid’s private school.” Recall, for example, that former President Donald Trump once used money from his foundation to buy a painting of himself . Often, the wealthy can pour money into foundations and funds with philanthropic aims without actually distributing that money to anyone. One popular charitable medium today is called a donor-advised fund . Rich people put their money into these funds, and “advisers” who manage the account eventually give away the money — eventually being the key word. Even if the money hasn’t gone to a good cause yet, donors can take the tax deduction right away.

In other cases, what raises eyebrows is whether an ostensibly charitable organization actually serves a public good. These charities get tax-exempt status because they’re supposed to have a “pro-social” purpose, says Daniel Reck, an economics professor at the University of Maryland who recently co-authored a paper analyzing tax evasion among the ultra-rich . Some billionaires claim their foundations qualify because they’re opening up a historical mansion or private art collection to the public. In fact, there are many examples of tax-exempt organizations not holding up their end of the bargain. As ProPublica reported , the historic landmark Carolands Chateau enjoys tax benefits but is open to the public just two hours per week. A private art gallery established by the late billionaire Sheldon Solow only recently became open to visitors , despite some of the art being held in a tax-exempt foundation.

Also crucial to utilizing charity as a tax avoidance strategy is pumping up the value of your generosity. “You donate some fancy piece of fine art to a museum, you get an assessment for the art, it’s much more than you could actually ever sell it for,” explains Reck. “You get a big tax write-off.” It’s not just fine art, either — one popular form of overvaluation (until Congress passed a bill putting an end to it last year) involved inflating the value of land. Called a “syndicated conservation easement,” it took advantage of an incentive for environmental conservation, in which landowners who agree not to develop their land would get a tax break proportional to the fair market value of the land. “The game is that people just massively, ludicrously inflate these fair market values,” says Reck. In the syndicated version of this tax break, a group of investors buys land, gets an overvalued assessment on it, and shares the tax write-off between themselves. “Now there are a bunch of court cases about it,” Reck says.

The gray area and the illegal stuff

Some of the above tactics occupy an ambiguous, blurry zone of legality — it might be okay or not on a case-by-case basis. Some wealthy people may be alright with the risk, but Kosnitzky notes that it isn’t wise to play the “audit lottery” — there’s also reputational risk to consider. For those determined to take an “aggressive” tax position, a lot of documentation and even having their lawyer prepare a memo defending their tax strategy may be necessary. They might still end up paying a penalty and owing taxes, but exactly how much is up for negotiation.

The paper Reck co-authored found that sophisticated tax evasion methods used by the very wealthy, including evasion through pass-through businesses or offshore accounts, often goes undetected by random audits. This suggests that current estimates of the “tax gap,” or the difference between taxes paid to the IRS and the amount it’s actually owed, is very likely an undercount.

The difference between avoidance (legal) and evasion (illegal) is hard to untangle at times because wealthy people will dispute their audit, deploying brilliant tax lawyers to argue that the government is mistaken. These battles can take years to settle. It’s not just that the IRS needs a bigger budget to do all the audits it wants to — it did get extra funding in the Inflation Reduction Act — but that auditing a wealthy taxpayer is costlier, and much more time-consuming, than auditing a poor one. The structures of the well-off’s businesses are often extremely complex, too, which also makes auditing them more expensive.

Reck noted that rich people dispute a greater share of the tax that the IRS says they should pay after an audit. In the middle of the income distribution, about 10 percent of the auditor’s recommended adjustment is disputed, says Reck. Among people with the highest income, however, the disputed share exceeds 50 percent. “That suggests that the taxpayer and their advisers, at least, believe that they’re either in some gray area or were allowed to do what they did.”

“We’ve talked to a lot of former IRS agents, and they would often hear the line that for wealthy taxpayers, their tax return is like an opening offer,” says Kiel.

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Top 20 things to do and attractions in Mytishchi

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1 St. Basil's Cathedral

2 All-Russian Exhibition Center

3 Kva-Kva Park

4 fest mytishchi drama and comedy theatre, 5 mytishchi arena.

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7 monument to the hero of the soviet union raspopova nina maksimovna, 9 teatr kukol ognivo, 10 mytishchi history and art museum, 11 mytishchinskaya kartinnaya galereya, 12 temple of the don mother of god, 13 perlovskiy park, 14 petrushkina sloboda, 15 church of st john the baptist in the barbarous gate.

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16 XL Outlet

17 interactive einstein museum, 18 zamaniya, family adventure park, 19 temple st. great martyr george, 20 chasovnya vo imya nikolaya chudotvortsa v mytishchakh, what's the weather like in mytishchi.

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