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>You don't really "save yourself from taxes" by donating money to charity. That's not really true if you have sufficiently appreciated assets and are in a high
by ghaff 2y ago
>You don't really "save yourself from taxes" by donating money to charity.
That's not really true if you have sufficiently appreciated assets and are in a high tax bracket. You can donate those appreciated assets and collect an annuity from some percentage of the face value donation and basically be shielded from any capital gains.
See e.g. https://www.fidelitycharitable.org/guidance/philanthropy/charitable-remainder-trusts.html https://www.fidelitycharitable.org/guidance/philanthropy/cha...
I'm sure there are other mechanisms as well.
- Windchaser 2y agoI mean, maybe? But long-term capital gains are a low tax bracket, so the “in a high tax bracket” part doesn’t apply. I’m curious what portion of his wealth is even taxable. Remember that Bush Jr did a “capital gains forgiveness” year with 0% long term gains rate. I expect many many many of the wealthy sold and then rebought all their major assets that year.