CHICAGO (TheStreet) -- Whether they're hopping a private jet to St. Barts or handing over platinum credit cards at designer boutiques, the ultra-rich operate in a world apart from the average middle-class American.

Those differences are especially striking at tax time. The more money you have, the more options you have for avoiding or minimizing certain taxes.

-- That's why the only way to really save on taxes is to renounce U.S. citizenship. If you move to a tax haven such as the Bahamas or the Cayman Islands, you'll avoid taxes on income, capital gains, and property. Investor John Templeton, who popularized the mutual fund, took this route. But it's not one many American millionaires have emulated.

-- A more popular option for avoiding taxes is to spread the family wealth among numerous properties and investments. ...