Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: staytrue
For the rich, it is also a nice vacation scam. You set up a foundation, pick you and your relatives as "directors" and make sure a lot of "necessary" travel to Fiji, Hawaii, etc. is involved. That way you can donate appreciated stock, get a nice tax deduction, avoid capital gains tax and get free vacations on pretax dollars, with the only caveat that 10% of the money actually go to "charity"

I think everyone I have ever met who could find a way to scam on their taxes scammed on em.

6 posted on 01/01/2004 8:42:20 AM PST by Huck (Tagline Censored by Admin Moderator)
[ Post Reply | Private Reply | To 3 | View Replies ]


To: Huck
I think everyone I have ever met who could find a way to scam on their taxes scammed on em

Yes and god bless them all because taxes are too high, the tax code is an abomination. We need a low flat rate with no deductions.

11 posted on 01/01/2004 9:24:41 AM PST by staytrue
[ Post Reply | Private Reply | To 6 | View Replies ]

To: Huck
"I think everyone I have ever met who could find a way to scam on their taxes scammed on em."

Using the laws to one's own advantage could hardly be called a "scam." Is it a scam when you take deductions to which you are entitled?
14 posted on 01/01/2004 9:34:34 AM PST by Henrietta
[ Post Reply | Private Reply | To 6 | View Replies ]

To: Huck
I think everyone I have ever met who could find a way to scam on their taxes scammed on em.

What types of scams? I don't know anyone who admits they did --- most only claim the kids they actually have, don't try to claim a pet or deductions they don't have.

21 posted on 01/01/2004 10:43:28 AM PST by FITZ
[ Post Reply | Private Reply | To 6 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson