| > I think there is a limit to the amount of gift in cash or other assets you can make without triggering a federal gift tax of around 40%. AFAIK, this does not apply when giving to a charity. > I can’t speak for Acton. Or in any legal capacity, but if it were me, tax deductions to a non profit can be rife with complications because if he ever gets involved with signal as a board member or employee, it might rise questions. And the loan won't raise similar questions? Why? > Signal foundation is not a charity. > A gift invites taxes, iirc. Like..if I gifted you above 15k(and you are not my family or part of a trust/insurance beneficiary etc), you will have to pay taxes on the realized value of the gift. > Also I don’t know exactly what kind of non profit Signal is... It's a 501(c)(3) https://signalfoundation.org/ |
Brian Acton is listed as Principal Officer/President
You can’t donate to your own company and then claim it for a tax deduction.