Warren Buffett's annual letter: Takeaways for seamless succession planning for entrepreneurs

Even the smallest enterprise has multiple legal entities. We create them to “save” taxes; fudge expenses through transfer pricing; hive off rents and perks for owners through lazy posts and positions and hide revenues and incomes from the taxman.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/plan/warren-buffetts-annual-letter-takeaways-for-seamless-succession-planning-for-entrepreneurs/articleshow/74413829.cms