Why Philanthropy is the Ultimate Tax Hack for the Wealthy

Описание: Billionaires like Warren Buffett often make headlines for donating massive wealth to charity. While this generosity seems purely philanthropic, there’s a tax-saving strategy behind it. Estate taxes on fortunes over $13.61 million in 2024 can reach 40%, prompting wealthy individuals to use private foundations to minimize taxes. These foundations allow families to retain influence and benefits like salaries while ensuring funds avoid government taxes and go to charitable causes instead. This video breaks down how private foundations work and why they’re a go-to move for the ultra-wealthy.

0:00 Intro
0:25 Billionaires giving to charity—what’s behind it?
1:15 Estate taxes and their role in charitable donations
3:30 Private foundations: What they are and how they work
5:20 How private foundations reduce tax burdens
6:42 The benefits for families who manage foundations
8:10 Why wealthy families choose this strategy
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Hi! I am Jimmy Sexton, LL.M. – Founder & CEO of Esquire Group. I founded Esquire Group with the objective of helping and inspiring wealthy families, investors, entrepreneurs, and high-level executives obtain and gain control over and protect their wealth, via strategic wealth planning.

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-------------------------------------------------DISCLAIMER-------------------------------------------------------
This video is prepared for educational purposes only. This video is not legal, tax or any other type of advice. Each individuals’ circumstances are different, you should seek legal and/or tax advice to address your specific situation and any questions you may have.