Great video! Three questions related to Charitable remainder trust (CRT) 1. Does CRT be treated as an entity and need to file 1041 return every year? 2. How to calculate CRT tax deduction ? 3. Is CRT distribution taxable income? Is distribution be issued like 1099R form? 4. Where to enter the data at form 1040 ?
Correct me if I’m wrong, but if I donate $100k into my PFF, I would lose more money than if I just pay my 37% income tax and keep the money in my bank acct. Unless I was planning to use my PFF to pay for salaries, expenses and charities then I might break even.
Better they give the money to charity than the corrupt government. They earned it and they're giving a lot to people that really need it. Instead of corrupt politicians. More power to them!
I think you need a new calculator. At the 5:42 mark, you started explaining how you could dontate $50k (cost basis) to save $92k in taxes. My calculator says you're donating $250k (market value) to save $92k. Now, explain how that would be a smart business decision?
I think you may have missed the "appreciated" asset part. The example implies that the asset has a $50K basis and later appreciates to $250K, at which you donate... If you donate, it will be valued at the fair market value, not your cost basis.
You need to mention that family does not mean just any relative. It means a spouse or your own biological child. And I find it ironic Gates is concerned about donations helping him save on taxes with his level of wealth.
Doesn’t make any sense. When you donate 100$ stock you donate 100$. Because you can sell it for 100$. No matter how much you paid when you purchase them. ….
