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Private Charitable Foundations Your Key to Significance

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04/18/2011 12:58 AM
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Private Charitable Foundations Your Key to Significance
I'm interested in starting my own business. I need a tax break. Can anybody give me any advice on this charity?

"Anyone may arrange his affairs so that his taxes shall be as low as possible. He is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands." Judge Learned Hand, Helvering v. Gregory, SupremeCourt, 1935

Why start a private charitable foundation?

1. To make the world a better place. What would you change in the world, if you could?
2. Have control but not ownership. Make the decisions but not have the liabilities of ownership. Become a steward instead of an owner.
3. Flexibility: this is the most flexible financial tool available.
4. To make a personal statement, leave a legacy, share your vision and your values with children and grandchildren.
5. Empower your dream: create a new career focused on your passion to make a difference in an area of your choice.
6. Save on taxes. Be permanently free from capital gains, income taxes, estate or gift taxes by legally avoiding their creation, and redirect former tax dollars to charity. Also avoids probate. Anyone can move from taxpayer to steward and giver.

The private charitable family foundation is a non-profit entity, a 501(c)(3) exempt organization, organized for charitable, religious, educational, cultural, literary, scientific or other such purposes.

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