♦ How to Donate 10 Times More with the Donation Flow-Through Strategy ♦
Have you ever wondered how people donate millions to a charity, like to a large hospital, or have their name as a charitable foundation?
Do they actually give away that much money?
Or, do they have a method to do it?
The truth is – it’s often an effective tax plan that people use to donate 10 times more, and it’s called the Donation Flow-Through Strategy.
In my latest YouTube video I’m going to teach you this strategy, so you too can become a philanthropist, without giving away a lot of money.
Your charitable foundation can survive 100 years after you are gone still donating to your causes. It’s the ultimate status symbol of the rich & famous.
Watch to find out:
• Why am I talking about donations when the cost of living is so high?
• What if $5,000 would give you a $50,000 donation to a cause important to you?
• What is a “flow-through share”?
• What is the “Donation Flow-Through Strategy”?
• How does it work?
• Who does it work for?
• How big or small a donation does it work for?
• Can you use a holding corporation for it?
• What creative tax strategies can you do?
• How will the revised Alternative Minimum Tax (AMT) in 2024 affect this strategy?
• Why is a personal charitable foundation a perfect fit for the “Donation Flow-Through Strategy”?
• How does a “Donation Plan” benefit you?
…. and more!
Enjoy this week’s video!
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⏰ TIMESTAMPS
00:00 | Introduction.
01:08 | What you’ll learn from this video.
02:08 | Why do we need to talk about donations when the cost of living is so high?
04:14 | Reducing the after-tax cost of giving.
05:56 | What is a flow-through share and how does it work?
07:40 | Four steps to get tax benefits.
09:06 | What an accredited investor is.
10:19 | Strategies for maximizing the benefits of tax deductions for corporations and individuals.
16:15 | Rough summary of tax savings for the individual.
17:32 | How to get a tax refund.
18:04 | Individual and corporation tax rate.
19:50 | How much it takes to make a $100,000 donation?
21:08 | Setting up a holding company to save money.
27:01 | The typical cost of giving to a charity.
27:38 | The tax credit process.
29:31 | Why is a personal charitable foundation a perfect fit for donation flow through?
31:52 | Benefits of a charitable foundation.
33:38 | The revised alternative minimum tax in 2024.
34:23 | The impact of the new alternative minimum tax.
37:17 | How do you claim donations effectively?
39:22 | The importance of having a donation plan.
39:48 | How to choose a charity to support.
41:32 | Why a personal charitable foundation is perfect for donations.
42:08 | Recap of video..
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Please like, share and comment if this video has been helpful to you!
Thanks so much!
Ed Rempel
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Ed Rempel CPA, CMA, CFP is a financial blogger, fee-for-service financial planner and tax accountant with a ton of real life financial planning experience. He was awarded “Best Canadian Personal Finance Blog” by Expertido, and is the #1 financial blog in Canada for a financial planner on Hardbacon and Feedspot.
For the past 28 years, he has assisted thousands of Canadians with creating real, professional, “interactive” financial plans that earn results. Ed is known for his financial strategies, such as the Smith Manoeuvre and Lifecycle Investing strategies. He is also particularly skilled with the 8-Year GIS Strategy, a strategy to help seniors qualify for larger government pensions using effective planning & investing.
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