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As i mentioned I am not sure how the math works - but what I believe occurs is that the manager of the charity is likely not a "person" but setup as a trust. th

by phlux 16y ago

As i mentioned I am not sure how the math works - but what I believe occurs is that the manager of the charity is likely not a "person" but setup as a trust. the money goes into that trust and is leveraged via loans / collateral just as is spelled out in several of the methods described in the link. The point is that the donations to charities and the income of your own charities also offset each other.

deleted 16y ago
[deleted]
phlux 16y ago
Nice try - however did you read the whole article posted? Did you look at the links regarding Bristol and her charity? Did you look at all at the RED fund corruption investigations? So, while I am making some assumptions, they are founded in reality. Further, it is clear that there are many mechanisms for wealthy to reduce their tax liability in creative ways (this is the premise of the article), thus for me to speculate that some vehicle for tax reduction may be to leverage some form of trust/partnership/collateral is being very upfront with my assumptions, further backed up by my repeated assertions that I am not sure how this works revealing that I could be totally wrong. Edit, perhaps my last comment was too harsh, redacted...
- jbooth 16y ago
  Deleted mine because it was also a bit overheated and you seem to be commenting in good faith. I haven't investigated those links but it's my opinion that the vast majority of tax cheating is through means that involve fewer charities. (see GE).
- phlux 16y ago
  We may be both correct. The over-inflated-self-payment form of cheating, ala Bristol Palin, may very well be the pedestrian 'new money' scam (for lack of better phrasing), whereas the other modes are far too sophisticated for her ilk and reserved for old-money to whom several hundred thousand is peasant pay.
  - Vivtek 16y ago
    Yeah - you pretty much need a family financial advisor to get that stuff working right. The Palins aren't at that level (yet - they sure are working hard on it, though).

by phlux 16y ago

deleted 16y ago

[deleted]

phlux 16y ago

Nice try - however did you read the whole article posted? Did you look at the links regarding Bristol and her charity? Did you look at all at the RED fund corruption investigations? So, while I am making some assumptions, they are founded in reality. Further, it is clear that there are many mechanisms for wealthy to reduce their tax liability in creative ways (this is the premise of the article), thus for me to speculate that some vehicle for tax reduction may be to leverage some form of trust/partnership/collateral is being very upfront with my assumptions, further backed up by my repeated assertions that I am not sure how this works revealing that I could be totally wrong. Edit, perhaps my last comment was too harsh, redacted...

jbooth 16y ago
Deleted mine because it was also a bit overheated and you seem to be commenting in good faith. I haven't investigated those links but it's my opinion that the vast majority of tax cheating is through means that involve fewer charities. (see GE).
phlux 16y ago
We may be both correct. The over-inflated-self-payment form of cheating, ala Bristol Palin, may very well be the pedestrian 'new money' scam (for lack of better phrasing), whereas the other modes are far too sophisticated for her ilk and reserved for old-money to whom several hundred thousand is peasant pay.
- Vivtek 16y ago
  Yeah - you pretty much need a family financial advisor to get that stuff working right. The Palins aren't at that level (yet - they sure are working hard on it, though).