You see the Zuckerbergs have formed a limited liability company (LLC) to act as a non-profit or charitable trust. But in reality, the Chan Zuckerberg Initiative is a for-profit and privately held vehicle that is intended to make investments and other things.
Over the duration of their lifes, the Zuckerbergs will transfer the Facebook shares they hold to the LLC and NOT PAY CAPITAL GAINS TAX.
They shall also be able to DEFLECT BILLIONS OF DOLLARS OF OTHER INCOME FROM TAX BY WRITING OFF THE DONATION AS A CHARITABLE CONTRIBUTIONS.
The world’s media has been all over this by portraying this tax dodging scheme as an action of generosity and those of you who insist on believing anything the mainstream media dribbles out without any further investigation of your own, let this be a lesson to you.
More importantly, you should take note of these techniques and utilise the same yourself. There is nothing illegal in trying to streamline the amount of tax you pay and helping your children or family prosper from your own hard work – especially if you do not agree with actions and expenditure of your government.
(Image courtesy of arztsamui at FreeDigitalPhotos.net)