Santa Clara County is going after Menlo Park-based Meta Platforms Inc., accusing the social media giant of facilitating 15 billion scam ads daily on Facebook and Instagram, accounting for $7 billion in revenues per year.
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Congress outlawed tax deductions on “wash sales” in 1921, but Goldman Sachs and others have helped billionaires like Silicon Valley's Mark Zuckerberg, Brian Acton and Dustin Moskovitz see huge tax savings by selling stocks for a loss and then replacing them with nearly identical investments.
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