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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (10319)	9/30/2000 12:40:45 AM
From: -	Respond to of 18137

Hi Eric, Hate to disappoint you, but there is a class of tax deduction which allows you to deduct the amount you initially commit to donating (to a qualified charity) over a lifetime... it's all brought into the present year as a humongous carry-forward deduction, while your short-term payments to the charity are kept to minimal/reasonable levels. All the tax firms at the Ontario Expo were pushing this particular class of accelerated charitable tax deduction hard. It makes for a very large, impressive-sounding tax deduction, while in turn you are allowed to pay the cash out to the charity over a very long time period. I'm sure the IRS gets plenty of hooks into you (and your estate) when you elect for that deduction, so it's totally legit. You likely basically have to sell your soul (and your estate) to the IRS in order to get this amazing deduction :) I know Philip is a very very nice guy, but I thought his CNBC interview was likely less than fully candid about the timing/nature of the cash flow/deductibility of this incredibly generous donation, and that he appeared to be engaging in a large dose of self-aggrandizement :) However, most likely, if you look at the details I'd wager that without making this donation, Cyber's founder would end up with less $$ in 25 years. One of the headaches of being acquired by Charles Schwab! Perhaps he's lurking here and can enlighten us -- LPS5 probably knows the answers too :) Steve