Posted On: 02/25/2016 5:41:33 PM
Post# of 65629
ha!..!..ever hear of something called taxes:
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http://www.gobankingrates.com/personal-financ...esnt-make/
... .."extraordinary generosity"...not a chance. Not faulting the man on his savvy.....but he is no saint by donating such. That's the guise.
Quote:
Buffett has made many headlines over the years by giving away large chunks of the fortune he’s amassed. As recently as July 2015, he gave away $2.8 billion in Berkshire Hathaway stock to five different charities, according to CNN. Buffett makes significant donations each year and, when possible, he likely takes the maximum allowable deduction for charitable contributions, Seaman said.
So while giving is a good thing, it’s even better when it results in a tax break. “Any charitable donation should be tracked, recorded and receipts filed away so the deduction may be claimed,” Seaman said. “The more you can afford to donate, the more you get to deduct — so long as deductions are itemized.”
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Quote:
A nifty trick from the Berkshire Hathaway book involves Buffett’s penchant for trading one highly profitable investment for a new one — and in essence starting from scratch, tax-free. He did it in 2014, when he traded $4.7 billion in Procter & Gamble stock for Duracell, “the copper-top” battery company P&G owned and was looking to sell.
P&G stock had made Buffett lots of money — and he could’ve owed more than $1 billion in taxes if he had sold it. Instead, by giving the stock back to P&G and getting Duracell in return, Buffett owed Uncle Sam nothing.
http://www.gobankingrates.com/personal-financ...esnt-make/
... .."extraordinary generosity"...not a chance. Not faulting the man on his savvy.....but he is no saint by donating such. That's the guise.
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