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I went through the introduction to Private foundations. I was wondering if there are specific income or profit thresholds that make it worthwhile to establish one. For instance, if a W2 employee earns $300,000 annually or a business owner has $100,000 in annual profits, would those scenarios justify the creation of a private foundation?
Hey @Aaron Parker yes who is a W2 can save minimum 30% per year on taxes by using a private foundation, with the complexity involved in creating and managing the foundation usually if your paying multiple 6 figures per year in tax it makes sense.
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