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Ask Paula: Okay Seriously, Why Hasn’t Anyone Solved the Budgeting Issue?
Afford Anything
Can You Reduce Your Taxes?
You can set up a structure where the trust pays you an income stream for xamonatime. The problem is these trusts are irrevocable, meaning once you set this up and you move the money into that trust, you can't change your mind. You're helping your community. Your giving back to your community. That actually serves three purposes. First, it reduces tax on the money, but second, it also brings along a charitable side of what you're doing. And by the way, paula, i've seen people take this with a lot of money. They have zero tax or very, very small amount of tax that they pay.
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