How To Use Charities To Avoid Taxes Like The Super Rich

By a Trusted CPA: Find out how MAXIMIZE your Tax Deductions from Charitable Donations.
/ @mycpacoach
Everyone already knows that you can get a tax deduction for donating money to charities.
In short, if you itemize you get a dollar-for-dollar deduction for the amount you contributed to a charity of your choice.
But that’s not what this video is about. This video is about getting EVEN MORE TAX DEDUCTIONS from charitable donations... that goes beyond the basics.
Because the truth is that the ultra-wealthy are not just handing money over to charities. Instead, they are using charities as tax shelters to park their money in and avoid paying taxes.
So let's talk about it.
Intro: (0:00)
How the Wealthy Use Charity to Avoid Tax (0:30)
How Charitable Tax Deductions Work: (2:27)
Donating Appreciated Property to Charity: (3:55)
Using a Private Foundation: (6:10)
Using Donor Advised Funds: (9:35)
Using a Charity Remainder Trust: (11:20)
Become a Client: mycpacoach.com/save-on-taxes

[@walterlimbacher4264]

Thanks for this very informative video...The real benefit will be the blessings you get from sharing with others.

[@paultaylor6805]

A very informative video well worth watching more than once. Thank you for your work.

[@mycpacoach]

Thank you, Paul! I appreciate it.

[@malikdey-nativemoor2923]

Yes! Speak on it

[@julianjobe2062]

Need to follow up with this man. This was some solid info

[@mycpacoach]

Glad you found it helpful! Thank you.

[@julianjobe2062]

Thanks!

[@BugRaiser]

This man is putting us on game

[@patricklucas7713]

Finally I can stop paying taxes thank you, you truly are a hero.

[@jessicahoward6557]

Can you create a CRT and a private family foundation and have the funds go to the family foundation when you pass?

[@TheRealBlackula]

PREACH!

[@carrie4579]

is it the charible contribition limit to 30% of AGI? if you contribution 100K to a charity foundation, does it mean you AGI is $333K?

[@WeintraubMedia]

What about a charitable lead trust?

[@steveking8548]

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?

[@mycpacoach]

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.

[@guitarandmore69]

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!

[@AutumnGold0706]

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.

[@cheriefang7057]

more details please

[@user-wv5pj9gx4o]

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. ….

[@Cl-1993]

😂