You care a LOT more about this than I do. Get some
Post# of 65629
Posted On: 06/10/2016 12:31:10 AM
You care a LOT more about this than I do. Get some rest, your nerves are frayed from the Guins having to get back on a plane.
There's blood in the water. Sharks like that!
There's blood in the water. Sharks like that!
Quote:
Buffett has donated billions to the Bill & Melinda Gates Foundation, and will avoid the inheritance taxes that hit the rest of us.
https://www.washingtonpost.com/business/econo...story.html
Sure, Buffett is avoiding estate taxes by giving away essentially all his Berkshire stock. But he’s making donations because he wants to be generous — not to avoid estate taxes.
It’s simple math. If you donate 100 percent of your assets to charity, your heirs are left with zero. If your estate pays 40 percent of its value in estate taxes, your heirs have 60 percent. Which is a lot more than zero. You don’t give away 100 percent to save 40 percent.
And only a few of us have to worry about federal estate taxes, which kick in only when a married couple’s estate is worth more than $10 million. It’s a problem I wish I had.
If you want to avoid estate taxes by donating everything you own to charity, be my guest.
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