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Lol. Yeah, that's how it works. Where would the money come from to pay a tax on something given away? There is no profit, there is only loss.
by throwaway22032 4y ago
Lol.
Yeah, that's how it works. Where would the money come from to pay a tax on something given away? There is no profit, there is only loss.
- yucky 4y agoThis is how the wealthy avoid estate taxes. Move it to a non-profit controlled by your heirs. The non-profit now provides a never ending piggy bank for said heirs.
- missedthecue 4y agoThey'd be better off just eating the tax hit. $250k salaries for sitting on a board of trustees is nice, but it ain't nothing like a $500 million inheritance