Depends on how much of a tax deduction you get, Chuck. I'm no accountant. All I know is that a lot of wealthy people (particularly those who've made wealth quickly) start foundations and use it to be generous citizens as well as take a huge tax deduction on what they give. Whether you come out better than just keeping the money and paying more in taxes, I don't know. It could be just as simple as he'd rather be deciding where his money goes instead of the feds wasting it on crap he might disagree with.
I know if I won the lottery or came into big money somehow, it would be something I would do.
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12-05-2014, 10:20 AM
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