4 ms·
By donating appreciated stock, you can deduct it from income, twice. So approximately, if someone donates half their wealth she'll pay 0 income tax, which may
by alisonkisk 5y ago
By donating appreciated stock, you can deduct it from income, twice.
So approximately, if someone donates half their wealth she'll pay 0 income tax, which may be more than her tax burden on the whole amount.
Getting this exactly accurate requires detailed accounting, as well as tax sheltering, deductible spending on first class travel as part of her charitable work, deductible payments to children and the value of buying favors and making her personal brand marketable, etc.
- solveit 5y agoGranting your premise that you can pay zero tax by donating half your wealth (which I'm guessing assumes you have zero cost basis for your assets), wouldn't that still leave you with... half your money? It doesn't seem worth it unless you're paying 50% in income/capital gains/whatever tax.