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Yes a lot of it is difficult, which is why rich people hire people to figure this out for them. Mitt Romney is the inspiration for the management fees as capit
by efficax 6y ago
Yes a lot of it is difficult, which is why rich people hire people to figure this out for them.
Mitt Romney is the inspiration for the management fees as capital gains trick. https://www.businessinsider.com/law-professor-says-one-of-romneys-tax-avoidance-schemes-was-illegal-2012-8 https://www.businessinsider.com/law-professor-says-one-of-ro...
The point of the foundation is you evade taxes with the writeoff. Using it to pay your friends/family is just a bonus.
It also helps to win you goodwill, you get to have galas etc. and convince people you're one of the good ones.