The Tax Code Loves Philanthropists

Discover How To Thrive As A Philanthropist While Protecting Your Assets, Lowering Taxes, And Preserving Wealth Across Many Generations

It's Worth Repeating: The Tax Code Loves Philanthropists.

After working with thousands of entrepreneurs, investors, and high-income earners over the past two decades, we have found that while legal structures such as incorporations, wills, and revocable trusts can help protect assets, mitigate risks, and reduce taxes, their benefits are limited.

To maximize these advantages, many families explore the integration of irrevocable trust structures. However, these trusts come with significant restrictions. The grantor's control over trust activities and investments is greatly diminished, as these responsibilities fall to an independent trustee. Furthermore, transfers to irrevocable trusts are subject to gift tax limits, and the trust's assets face income and capital gains taxes, either at the trust level or passed through to beneficiaries.


Given these constraints, establishing a private foundation emerges as a compelling alternative. The government offers various incentives to promote philanthropy, which can help navigate some of the legal and tax hurdles associated with traditional wills and trusts. Here are some key benefits that make private foundations an attractive option for strategic wealth management and legacy planning:

  • Reduce taxable income (AGI) by up to 30% every year, for the rest of your life

  • Immediate family members can also reduce AGI by 30% every year, for the rest of their lives

  • One foundation can be used by all your family members - no separate entities required

  • The foundation's assets and investments grow in a tax-free setting (foundation is a tax-exempt entity)

  • Mitigate personal risk by removing high-valued assets from your personal name: donate it to the foundation

  • Portfolio growth without facing income tax or capital gains tax

  • Legally circumventing gift, estate, and inheritance taxes

  • Transfer of assets without facing probate costs and delays

  • Multi-generational asset & income preservation

  • Knowledge transfer to heirs and beneficiaries

  • Increase in social and charitable contributions

We invite you to attend a free workshop where we discuss the details of private foundations, along with asset protection, tax strategies, and multi-generational wealth management.

Workshops & Events

Live and Interactive Workshops To Empower You

ESTATE PLANNING USING WILLS, TRUSTS, AND FOUNDATIONS

Discover how estate planning works and how to use wills, trusts, and foundations to strategically lower the "value" of your estate and mitigate all sorts of taxes, costs, and delays, while preserving your wealth for many generations to come.

TAX REDUCTION WORKSHOP FOR ENTREPRENEURS & INVESTORS

Discover how to predict and lower all sorts of taxes that you will (most likely) incur at one point or another, such as: income tax, capital gains tax, estate tax, gift tax, inheritance tax, and probate costs and taxes.

INVESTING STRATEGICALLY WITH TRUSTS AND FOUNDATIONS

Discover the world of private foundations and how corporations and families can leverage this powerful vehicle to not only reduce all sorts of taxes, but also grow wealth in a tax-exempt setting while funding charitable causes and missions.

Strategic Solutions & Strategies

Legal & Tax Strategic Solutions At A Glance

Who we serve:

  • High-income earners: $400,000+/yr

  • Entrepreneurs and business owners

  • Investors with $1m+ in assets

  • Investors looking to diversify

  • Individuals paying $100K+ in taxes

  • Individuals facing large capital gains

Legal entities we offer:

  • Incorporations & LLCs

  • Partnership structures

  • Wills and estate plans

  • Revocable and irrevocable trusts

  • Private foundations

  • Public nonprofits

Tax strategies we offer:

  • Income tax reduction

  • Capital gains tax reduction

  • Estate & gift tax reduction

  • Generation skipping tax

  • Probate cost and tax reduction

  • Excise taxes (foundations)

Solve Short & Long-Term Goals

Here are a handful of short and long-term objectives that we help our clients solve

  1. Asset protection: Safeguarding business assets, intellectual property, and trade secrets

  2. Risk Reduction & Mitigation: Securing personal assets and investments from risks and lawsuits.

  3. Mergers, Acquisitions, and Exits: Facilitating business and intellectual property sales and exits.

  4. Asset Preservation: Ensuring your wealth is not diluted, liquidated, or jeopardized by internal or external parties.

  5. Spendthrift Clauses: Protecting assets from potential mismanagement by heirs or beneficiaries.

  6. Wealth transfer: Enabling smooth intergenerational transfers without disputes, lawsuits, or delays.

  7. Portfolio growth: Fostering tax-savvy asset growth and appreciation through various legal, tax, and financial strategies.

  8. Privacy and anonymity: Maintaining confidentiality and privacy of asset holdings and wealth transfer.

  9. Becoming Judgment-Proof: Adopting an "Own nothing, Control Everything" approach through trusts & foundations.

  10. Tax reduction: Minimizing income, capital gains, gift, estate, trust, probate, and inheritance taxes.

  11. Charitable impact: Advancing social, charitable, research, educational, youth sports, or anti-sex trafficking causes.

  12. Impact investing: Strategic investment in tax-exempt assets that benefit humanity while growing wealth.

  13. Corporate Philanthropy: Helping corporations thrive by aligning them with public nonprofits & private foundations.

  14. Retirement & Lifestyle Goals: Helping individuals and their families strategically plan for a successful retirement.

Why you should consider becoming a philanthropist

Why you should consider becoming a philanthropist

In this blog, you'll how to: asset protection, tax mitigation, wealth management, asset preservation, portfolio diversification, and tax-friendly wealth transfer - you can have it all ...more

Private foundations

June 25, 20246 min read

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Here are a handful of short and long-term objectives that we help our clients solve

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Law and Tax Consulting, LLC.

IMPORTANT: LEGAL DISCLAIMER

The information contained on this page does not constitute legal, tax, of financial advice and is strictly for educational and entertainment purposes only. Please consult an attorney or advisor in your area to get a second opinion on legal matters. We are a consulting firm that houses attorneys, accountants, and other licensed professionals who who execute strategies for our clients. No attorney-client relationship is formed by scheduling a call, filling out forms, attending workshops, participating in the Hotline, or by sending us an email.