Who said anything about setting up a tax deduction? I’m setting up an indirect benefit to others that counts as an illiquid asset. It’s not an investment since its purpose isn’t profit, and its not charitable since I remain in control.
Pay attention to the genie’s criteria, and realize: for anyone actually trying to do some good, the IRS criteria might as well be so capricious and arbitrary. With that kind of money and a lot of these organizations, I would rather donate it directly, yes, but there are also plenty of organizations and causes where more money in the pot means more CEO and middleman pay. That, and the IRS, don’t have to count as a valid reason to withhold a single penny for someone that’s supposedly capable enough to have any business managing such a large amount.
Who said anything about setting up a tax deduction? I’m setting up an indirect benefit to others that counts as an illiquid asset. It’s not an investment since its purpose isn’t profit, and its not charitable since I remain in control.
Pay attention to the genie’s criteria, and realize: for anyone actually trying to do some good, the IRS criteria might as well be so capricious and arbitrary. With that kind of money and a lot of these organizations, I would rather donate it directly, yes, but there are also plenty of organizations and causes where more money in the pot means more CEO and middleman pay. That, and the IRS, don’t have to count as a valid reason to withhold a single penny for someone that’s supposedly capable enough to have any business managing such a large amount.