[Mamzelle]

I know of one well-off fellow who created a "educational and scientific" foundation and donated a wad to it and deducted the wad. Then he used the foundation to fund "adventure vacations" for himself and his wife, like safaris and Antarctic cruises.

The idea for a foundation like this is that the heirs get to keep the investment interest and profits while being required by law to donate 5% of the foundation's assets to some bonafide charity.

But this fellow has about spent the whole wad on his "scientific" vacations. LOL!!

I know another well-off fellow whose wife set up another "educational" foundation, and has used about half-a-million of it over the years to buy her camera equipment so she can make "documentaries" that nobody watches.

A lot of these foundations are ways to donate money to yourself and not only take the charitable deduction--but to style yourself as a bighearted philanthropist.

[george76]

Many ( not all ) of these foundations are clever tax dodges.

A clever lawyer will put the airplanes, boats, cars, vacations...in this tax shelter.

This is just one of many dodges.