20 Benefits of Starting a Foundation

June 26, 20242 min read

20 Unique Ways to Protect Your Assets, Preserve Your Wealth, and Lower Taxes by Starting A Family Foundation


Press Play to Watch This Short Video

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Here are a few highlights from the video:

1. Lower Personal Liability: Donated assets belong to the PF, protecting them from personal lawsuits. Once transferred, these assets are safeguarded from any legal claims that may arise against the donor.

2. Protect Assets from Spendthrift Heirs: By donating assets to a private foundation, donors can ensure their charitable contributions are preserved and managed responsibly, protecting them from heirs and beneficiaries who may not have prudent financial habits.

3. Corporate and Personal Tax Benefits: Corporations can reduce their taxable income by up to 10% each year through donations to a PF. Individuals can reduce their taxable income by up to 30% of their AGI by donating cash, and by up to 20% for donating assets like real estate and stocks.

4. Carry-Forward Excess Deductions: Excess charitable deductions can be carried forward for up to five consecutive years on personal tax returns, allowing donors to maximize their tax benefits over a longer period.

5. Tax-Free Growth: Assets within a private foundation grow tax-free, maximizing wealth for charitable purposes. This allows for greater accumulation of wealth dedicated to charitable efforts.

6. Boost Goodwill: Engaging in formalized philanthropy boosts goodwill, trustworthiness, and brand perception for corporations, enhancing their public image and fostering positive stakeholder relationships.

7. Structured Charitable Giving: Private foundations require a structured approach to charitable giving, including a mandatory 5% annual distribution of assets, ensuring consistent philanthropic efforts.

8. Align with Wills, Trusts, and Corporations: Private foundations seamlessly integrate with wills, trusts, and other legal structures, creating a cohesive strategy for long-term charitable impact.

We invite you to attend a free workshop where we go through frequently asked questions, practical examples, share experiences, and give participants to network and meet other entrepreneurs and investors (who are also on the same journey to learn more about wills, trusts, and foundations), as well as professionals actively involved in law, tax, and financial industries.

Book your spot below - it's 100% FREE - you'll get a chance to speak with our Attorneys & Tax Professionals in real-time.


ATTEND A FREE WORKSHOP:

We invite you to attend a free workshop where we discuss the above strategies in more depth and provide you with an opportunity to speak with our attorneys and tax professionals who operate in the world of foundations, day-in and day-out.

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