George Soros’s $18 Billion Tax Shelter The wealthy have tucked billions into private nonprofits—wher

Discussion in 'Taxes and Accounting' started by ajacobson, Nov 24, 2017.

  1. Visaria


    Sounds good. Third largest foundation in the world.
  2. newwurldmn


    At least a foundation is required to spend x percent of assets on charitable things.

    The biggest tax dodge in the world is IKEA.
  3. Couldn't agree more, that and Aldi (German supermarket chain)
    In Oz they call it Aldi Australia, not one local product in store I could see.
  4. newwurldmn


    I didn't know Aldi did the same thing. They own Trader Joe's which is rhe Aldis version of s high end supermarket with terrible parking lots.
  5. newwurldmn


    And it's likely that Soros donation is after initial taxes have been paid.

    How about bill gates who just gifted Microsoft stock to his foundation without paying capital gains?
  6. Why paying taxes is better than donating the money to foundations:
    1. Paying taxes will benefit 'every' citizen.
    2. Giving to foundations will only benefit own self (e.g. for political mileage, political control, business/political favors, and so on).

    Instead of the money going to the infrastructure of the country, it is being used to serve the elites (e.g. Clinton foundation).
    yiehom likes this.
  7. truetype


  8. truetype


    Well, sending money to Washington has benefited some citizens -- e.g. the Fanjul family.
    sle and d08 like this.
  9. sle


    Actually, since all of them operate as non-profits, pretty much every bit information about what they do is available to the public. Oddly enough, that money makes a hell of a difference.

    For any marginal dollar, given a choice between 50c of it going to wage a war or sponsor police brutality, I prefer to donate it and see it used for a good cause. I have been trying to donate as much of my income as I can (targeting 50% in good years). While at my income level it does not make sense to have my own foundation, i use the foundation available to the fund employees and also use donor-advised funds.
    #10     Nov 24, 2017
    Here4money, nbbo, themickey and 4 others like this.