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9 Benefits Of Establishing A Family Foundation 

Toby Mathis Esq | Tax Planning & Asset Protection
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In this video, Toby Mathis, Esq. and Karim Hanafy, Esq. will go over nine benefits of establishing a family foundation and the various tax benefits.
Karim is a nonprofit attorney with over 20 years of experience forming nonprofit organizations, obtaining 501(c)(3) tax-exempt status, advising with ongoing compliance, and assisting with annual tax reporting. Karim previously worked in the Tax Exempt Division at the IRS, and he uses his IRS experience to advise nonprofit organizations on the application process and ongoing compliance.
Connect With Our Team To Get Your Nonprofit Started 👇
Email: nonprofits@andersonadvisors.com
“Karim and his team right now are by far getting the best results of anybody I’ve ever seen.” 37:02
If you're interested in establishing a family foundation, then this video is for you!
A family foundation can provide many benefits for your family, your community, and the world around us.
These benefits include creating a lasting legacy, gaining access to unique resources, building relationships with key personnel, and more.
In this video, we'll explore the nine benefits of establishing a family foundation and show you how you can get started today!
Remember to like, comment, and subscribe to the channel for more great content along with guests. If you have any questions or comments about this video, feel free to leave them below.
Show Notes:
0:00 Intro
0:30 Guest Introduction
2:55 Family Foundation
6:40 #1 Taxable Income
9:30 #2 Avoid Capital Gains
10:55 #3 Tax Benefits
12:38 #4 Investing
14:50 #5 Board Members
17:03 #6 Charitable Activities
23:03 #7 Retirement Work
25:38 #8 Compensation Plan
27:36 #9 Estate Taxes
30:16 Next Steps
41:17 Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#tobymathis #familyfoundation #charity #nonprofitorganization

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23 июл 2024

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Комментарии : 93   
@TobyMathis
@TobyMathis Месяц назад
Want answers to your questions about this video? Schedule a complimentary consultation with our experts today! aba.link/8dfd71
@TexasNation897
@TexasNation897 Год назад
I started our family foundation with my mother and wife this year because of your guidance and I’ve never felt more optimistic for our family’s future. Edit: Making an update almost year later and it’s been the best decision for our family so far!! Talk about lifting out of poverty! Our house value quadrupled in the last 8 years. We took an equity loan out, paid ourselves and reinvested most into the stock market and . Now we’re selling the house and paying ourselves again and then reinvesting the rest. We’re trying to stay liquid so we’ve got cash set aside as we anticipate a sharp drop in real estate values after the new election. It’s been a long and emotional ride, definitely not for the weak willed. Mixing family and business is never easy, especially in this economic climate when everyone is feeling our dollar go less further, everyone will feel entitled to the money. My advice for anyone looking to do this, you can. Just keep in mind what I said, about family and business. Make sure you’re selling with property values on the uptrend and you’ll have the upper hand in the market.
@mississippiapple1078
@mississippiapple1078 4 месяца назад
How is it so far?
@nana-pa817
@nana-pa817 2 месяца назад
Are you still there? Any update?
@gracedavis5587
@gracedavis5587 Месяц назад
Congratulations ❤
@TheRealBlackula
@TheRealBlackula Месяц назад
Excellent!!!!
@SoraidaHicks
@SoraidaHicks 10 месяцев назад
This is great! Thanks Toby, I've been trying to get my non-profit organization all together, I was able to come up with unique name... and I m having hard time getting them all together...I advocate for holistic lifestyle due to personally being the illness person and I was ablee to win all my illness just adding few stuff in my diet... I recovered from mental illness, healed from diabetes, healed from arthritis, healed from universal allergies, healed back pain, headaches... I want to advocate to healthy lifestyle but I won't want to get be on a fighting situation with pharmaceutical businesses...my focus will be low income families, "not curing" their diseases just help them cupe better with the situation...all though it would actually cured them 100% but I don't don't want to promote that way... I want to follow the health protocolo... not to say millones of dollars in hospitals bills...Im working to get all this this things together... My soul get little weak when I see people suffering from pain...
@LAKitchen
@LAKitchen Год назад
Toby, your content is the MOST VALUABLE I have watched with REAL benefits provided. Thank you!!!
@FarmtheSunUSA
@FarmtheSunUSA Год назад
I agree, great content.
@alliesteam9776
@alliesteam9776 Год назад
Thank you for excellent presentation!!!
@dozydoedown859
@dozydoedown859 Год назад
thank you! you were very clear to understand and follow
@willmallory9085
@willmallory9085 Год назад
Excellent video Team.
@hyojinlee
@hyojinlee Год назад
Thank you for this video! This is the best video so far on this topic.
@TobyMathis
@TobyMathis Год назад
Wow, thank you!
@johnmollet2637
@johnmollet2637 Год назад
Great Information guys!
@user-cn8wc7op3j
@user-cn8wc7op3j 8 месяцев назад
Such great information. It's something I've always wanted to do and this may have been the push I needed.
@TobyMathis
@TobyMathis 8 месяцев назад
If you are interested in getting started then we highly recommend checking out the Anderson website for more details. andersonadvisors.com/
@user-tf6cf3oy1i
@user-tf6cf3oy1i 6 месяцев назад
WOW!!! Thank you so much to both of you for this guidance! This is the most educational and valuable content I have seen on RU-vid! I subscribed and will always follow you. You have opened my eyes to things I had no clue about. Many thanks!!!
@TobyMathis
@TobyMathis 6 месяцев назад
Glad it was helpful!
@KevinColussi
@KevinColussi Год назад
Karim -- Give Basic Needs loves you and thanks for the shout out! Great interview... ♥️🙏
@KarimHanafyNPAttorney
@KarimHanafyNPAttorney 4 месяца назад
You're welcome! I love what you're doing, keep up the great work!
@nana-pa817
@nana-pa817 2 месяца назад
Thank you for this very needful and priceless information. We've just awarded our first High School Scholarships (5 scholarships) this year. We had the passion to 'make a difference' and pursued it and had no idea where it'll lead us to. This is my 3rd video on learning about starting a non-profit private foundation. Everything makes perfect sense now. 'My Church' iykyk
@HODL-Diamond-Hands
@HODL-Diamond-Hands Год назад
thank you both very much :0
@CapitalG222
@CapitalG222 10 месяцев назад
Great information. Thank you guys
@TobyMathis
@TobyMathis 10 месяцев назад
Thanks for watching!
@John-bx6if
@John-bx6if 5 месяцев назад
Here we come Karim!
@cryptotiger7780
@cryptotiger7780 Год назад
Great video. One day I will have a family foundation. That is one of my goals.
@TobyMathis
@TobyMathis Год назад
Great goal to have, good luck 👍
@stepitupmorons8704
@stepitupmorons8704 Год назад
great stuffff again, a 2 z life,,, thank you,
@salahuddinmuhammad3251
@salahuddinmuhammad3251 Год назад
Accidental families don't succeed. Trusts, foundations- building together. Great video.
@alexis5784
@alexis5784 Год назад
Very timely video. I’ve been considering how to structure my legacy/estate plan. Great information to know. Thank you
@TobyMathis
@TobyMathis Год назад
Thank you for watching!
@mississippiapple1078
@mississippiapple1078 Год назад
Great info
@TobyMathis
@TobyMathis Год назад
Thank you! We hope you consider subscribing the the channel.
@amk9747
@amk9747 4 месяца назад
Thanks!
@TobyMathis
@TobyMathis 4 месяца назад
Thank you for the super thanks!
@MrMinnesotaMac
@MrMinnesotaMac Год назад
Toby, you've become my Professor in my legacy journey. I'm still a few years out but I'll probably need some estate planning before then. You mentioned that foundations must contribute to other 501c3's. I'd like to help conserve and repair historic places, documents and artwork. Am I restricted to the U.S. or can I donate internationally?
@alliesteam9776
@alliesteam9776 Год назад
Please go over how to actually plan to comply with support test. Thanks!
@htc1m89
@htc1m89 Год назад
Thank you. This information is very helpful and insightful
@ianeberle7644
@ianeberle7644 Год назад
Is there a limit to how much you could pay yourself or your family in salary? Does it have to be “reasonable”?
@thehybridpyro
@thehybridpyro 3 дня назад
Lol 34:46 he almost dropped the F bomb about the IRS.
@devnullbit
@devnullbit Год назад
In texas can the board or members be family? i am getting mixed information. Some saying family cant be on board in the 501c3 / foundation..
@jamesishmel2814
@jamesishmel2814 Год назад
Very interested
@TobyMathis
@TobyMathis Год назад
Are you interested in establishing a family foundation? If so, be sure to reach out to us in the future.
@TheRelaxingCreekGeek
@TheRelaxingCreekGeek Год назад
I started a nonprofit in 2015. If I wanted to make it a foundation what would I do and after is it possible to acquire my families land within the nonprofit?
@Jacquesmyers1031
@Jacquesmyers1031 Год назад
Hello. I have a curious question. Is it legal to form a foundation and nonprofit and to have controlling power of both? And also, donate 5% of the foundation to the nonprofit?
@TobyMathis
@TobyMathis Год назад
Join us for our next Free Tax & Asset Protection Workshop Live stream. Our attorneys and specialists will answer all your questions at no additional cost. Save Your Seat: aba.link/713456
@alliesteam9776
@alliesteam9776 Год назад
Also what is easy way to receive donations on a website
@razykallass1010
@razykallass1010 Год назад
If you are contributing to a nonprofit organization overseas, can I claim it on my tax?
@EdUdell
@EdUdell 3 месяца назад
My sister and I would like to set up a private family foundation to carry-on the legacy work that has been done to help individuals and communities. She learned much of this from her father before she passed away seven years ago. We would like to make it more formal and also be able to have income coming in so some of us can work at this full-time. How long would it take for our application to be approved if you helped us with it? And also, how much money would it take from us to get this approved and underway?
@FarmtheSunUSA
@FarmtheSunUSA Год назад
Great Video. So, what's the best value plan for starting a 501c3 with Anderson Advisors? Also, can I get initial program start contact with either Toby Mathis or Karim Hanafy?
@TobyMathis
@TobyMathis Год назад
Hi, we recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@tammiecason7933
@tammiecason7933 Год назад
I have a non profit it's easy to set up, who do you want to help with it?
@wompol7117
@wompol7117 11 месяцев назад
so what combinations of entities will work best to preserve, grow and distribute wealth intergenerationally? about to have a 9 digit windfall
@andyf1693
@andyf1693 9 месяцев назад
I would suggest finding a professional with a large private bank or family office organization with deep resources to start a goals-based planning conversation. Your goals drive everything and will lead to the answers to your questions. That qualified professional firm will also help you interview and select qualified estate attorney teams and tax professionals to put the right plan in place with the right coordination.
@vinny1010
@vinny1010 Год назад
33:50 - Doesnt the IRS want us to have at least 3 Directors (even though the State may have a 1 Director rule)?
@mgmgm5876
@mgmgm5876 Год назад
They always provide part of info so you can give them and their fraternity business
@TobyMathis
@TobyMathis Год назад
Fortunately, even if the IRS tends to prefer multiple directors, it is very common for them to approve non profits with less so long as the state has approved or allowed that type of non-profit.
@louismallia6656
@louismallia6656 Год назад
add i set up both
@krisdurfee2548
@krisdurfee2548 10 месяцев назад
Tobias - could I apply that tax deduction to a IRA donation as well?
@TobyMathis
@TobyMathis 10 месяцев назад
You can do the charitable donation directly from the IRA to avoid the distribution being taxable. Must be 70.5 yrs+ and it is limited to $100k per year.
@leilakamareddine4648
@leilakamareddine4648 3 месяца назад
Thank you for all this information and helpful resources. Something I don't understand: There is a 5% donation requirement for private foundations per year. What rules apply to the other 95% of assets in the foundation? Can we withdraw/sell, etc. freely? Or is the only way to access the assets if we hire ourselves? Thank you!
@TobyMathis
@TobyMathis 3 месяца назад
Great question! I recommend you reach out to our team to receive an a full answer. Email my team at nonprofits@andersonadvisors.com
@har8397
@har8397 Месяц назад
Lol great question, but as soon as I read it, I knew it would not be answered. But this isn't complicated stuff. If you research it long enough, you can figure it out. First create a list of all your questions. Next, look them up and track the answers. Next review them and create a web of interrelated points and facts. You got this.
@MichaelGolpe
@MichaelGolpe 10 месяцев назад
14:37 I don’t get something. That money stays in the foundation. It’s not mine, it’s the foundation’s. So, what’s the point- to be paid as administrator?
@NeedsMoreToys
@NeedsMoreToys 10 месяцев назад
The point is to do charitable work with the money rather than pay taxes with it. You can get paid also but that is taxable income.
@pritishbhattacharyya2948
@pritishbhattacharyya2948 8 месяцев назад
How much money does it cost invest for establishing a non profit 501 C (3)? .
@TobyMathis
@TobyMathis 8 месяцев назад
We recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session: aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@christopherdupremd8897
@christopherdupremd8897 5 месяцев назад
Does it matter which state you incorporate a Private Family NP???
@TobyMathis
@TobyMathis 5 месяцев назад
Great question, in order to assist you further, I highly recommend you attend our Free Tax & Asset Protection Workshop where our attorneys and specialists will answer all your questions live at the virtual event. aba.link/taptoby
@TBachaar
@TBachaar 8 дней назад
Can a foundation open rental properties directly? Or do they have to own the LLC that owns the properties ?
@TobyMathis
@TobyMathis 8 дней назад
Great question, to assist you further, I highly recommend you request a free 45-minute consultation to discuss this with my team so we can provide you with an answer that is unique to your situation. Visit: aba.link/8dfd71
@elenacorpade5269
@elenacorpade5269 22 дня назад
❤❤❤❤❤
@lorenaflores9299
@lorenaflores9299 Год назад
I’m very interested.
@TobyMathis
@TobyMathis Год назад
Hi Iorena, we recommend speaking with one of our advisors to discuss establishing a family foundation. Here is the link to schedule a free strategy session, aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@lorenaflores9299
@lorenaflores9299 Год назад
Ok Thank you
@MichaelGolpe
@MichaelGolpe 10 месяцев назад
20:50 Can my family foundation donate to my public charity?
@TobyMathis
@TobyMathis 10 месяцев назад
I recommend speaking with one of our advisors for any legal advice. Here is the link to schedule a free strategy session: aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@ruthfezatte8816
@ruthfezatte8816 8 месяцев назад
I also want to start my non profitable foundation. I have 20 acres land and can built 232 houses. I want ti help the low income people to buy the house . How can l connect with you .
@TobyMathis
@TobyMathis 8 месяцев назад
Here is the link to schedule a free strategy session: aba.link/tobyss. Or you may call to speak with an advisor at our toll-free line, 800-706-4741.
@NewVisionMinistries-mx3gt
@NewVisionMinistries-mx3gt 4 месяца назад
Trust LLC
@marctlm3636
@marctlm3636 2 месяца назад
How can I connect with Karim
@TobyMathis
@TobyMathis 2 месяца назад
You can connect with his team by emailing them at nonprofits@andersonadvisors.com or sign up for a free consultation by visiting aba.link/8dfd71
@bobpag6371
@bobpag6371 Год назад
What is Kareem’s last name?
@TobyMathis
@TobyMathis Год назад
Karim Hanafy is their name, please let us know if you have any further questions.
@LAKitchen
@LAKitchen Год назад
What are pros and cons of family foundations vs. pulic charity for operating low income housing program in CA?
@supportadmin7735
@supportadmin7735 Год назад
compared to a natural trust foundations are not nearly as good
@rebel_infinity7326
@rebel_infinity7326 5 месяцев назад
People asking their servants for permission
@davidgrenis638
@davidgrenis638 Год назад
YOU'RE TALKIN ABOUT 7 YEARS BUT USING ARTIFICIAL IN THE CRIPTO MARKET YOU CAN DOUBLE YOUR MONEY EVERY 90 TO 100 DAYS 110 OR 20 DAYS IF THINGS WERE REALLY REALLY BAD
@HyperspaceHoliday
@HyperspaceHoliday Год назад
Just like the Clinton Foundation 😅
@ABC-hi3fy
@ABC-hi3fy Год назад
Look you say a lot but say nothing. You need to say upfront the main points you are going to cover and tax benefits to us. I dont want these sob stories. I still give you thumbs up.
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