Maybe you are on to something. Maybe we should do away with

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Jan 15, 2020
2:04:47pm

BYU71 All-American

Maybe you are on to something. Maybe we should do away with

deductions for charities. Instead we can use the tax money the middle class and rich save to give to the government to decide what is worthwhile.

Plus the middle class won't be taking advantage with tax breaks the Rich that don't give to charities get.

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BYU71

Bio page: BYU71
Joined: Apr 23, 2001
Last login: Apr 29, 2024
Total posts: 67,396 (1,343 FO)

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Messages

Author

Time

CPA's, are there any tax avoidance strategies that the rich use to save lots

BYU71

1/15/20 1:39pm

<< Deleted >>

RdF3

1/15/20 1:44pm

Beware, conservation easements are listed transactions. I like sec 280A(g)

hitechcpa

1/15/20 1:56pm

Carried interest loophole?

maizecoug

1/15/20 1:52pm

And getting paid with stock options is another way to convert some ordinary

1/15/20 1:54pm

I got stock options offered when Intel offered me a job as a internal

BYU71

1/15/20 1:59pm

That one bugs the heck out of me. It is one the dems and repubs

BYU71

1/15/20 1:57pm

Yes, but if you wealthy and have concentrated and highly appreciated assets, a CRUT can save a lot.

RdF3

1/15/20 2:00pm

Maybe you are on to something. Maybe we should do away with

BYU71

1/15/20 2:04pm

Create a foundation with tax deductible donation, then work for the foundation

1/15/20 1:55pm

Can you take as income all the foundation earns. If not it is a charity.

BYU71

1/15/20 2:01pm

Here's an OZ example that an acquaintance of mine is doing

RdF3

1/15/20 2:08pm

Yea, a couple of friends of mine got into one. Sounded pretty

BYU71

1/15/20 2:14pm

Yeah I’m 100% sold on it being a good deal for lower income classes.

SpecialKC

1/15/20 2:23pm

So was it a program with good intentions or another botched

BYU71

1/15/20 2:25pm

I’m no expert but I am working on a deal in an OZ that we’ve funded and working

SpecialKC

1/15/20 2:41pm

Just that is more experience than I have. From talking to the two friends

BYU71

1/15/20 2:49pm

The thing is - truly rich people don't mind paying taxes. (Gates & Buffett)

1/15/20 2:19pm

I don't think they do. They get to set up huge foundations and

BYU71

1/15/20 2:27pm

IMO, the greatest tax avoidance opportunities right now are bonus depreciation,

Incentivize

1/15/20 2:31pm

Interesting when talking about a 1031. Unless the property is eventually passed

BYU71

1/15/20 2:45pm

Defined benefit plan plus solo 401k can get you 150-200k tax deferred space

cougfanz

1/15/20 4:56pm

Properly structured conservation easements.

Archaea

1/15/20 6:05pm

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