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$100 million tax bill -> move $100 million into Donor Advised Fund -> open family foundation and hire yourself / kids / friends at ~$500k per year leadership ro
by monero-xmr 4y ago
$100 million tax bill -> move $100 million into Donor Advised Fund -> open family foundation and hire yourself / kids / friends at ~$500k per year leadership roles -> DAF moves $100 million into the family foundation -> money back to self, host galas / high society events, enjoy life
- quickthrower2 4y agoIs this legal?
- monero-xmr 4y agoYes
- donmcronald 4y agoIf you have to ask, you can’t afford it. Lol.
- quickthrower2 4y agoI definitely can’t afford that!
- compsciphd 4y agoanyone who owns stocks should consider using a DAF. The only people who shouldn't consider using a DAF are the people who either dont own stocks or never give charity.
- jjeaff 4y agoYes, but if you have a $100m tax bill, you would need to donate more than that to offset the taxes. Assuming a 33% tax rate, you would need to put $300m into a foundation to zero out $100m in taxes.
- UIUC_06 4y agoDAF and "family foundation" are two alternate things. The latter is much more lawyer-intensive.
- monero-xmr 4y agoThe DAF can be done quickly for the tax writeoff. Then you follow up with family foundation set up properly