Alice Dubiel 🔬💉🦠😷🌬☮️Rather illuminating investigation into the ways the rich .001 percent use #foundationlaw political influence and valuable art collections to limit #taxliability with little public benefit. No wonder people are so skeptical about the #artworld. https://newsie.social/@ProPublica/110779990979024432 #irs
ProPublica (@[email protected])
How the Ultrawealthy Use Private Foundations to Bank Huge Tax Breaks While Giving the Public Little in Return == It’s a simple bargain: The rich get huge #tax breaks by donating #art, property and company shares to benefit the public. But some donors collect millions while offering little or no public access. #Taxes #Wealth #Charities #Nonprofit #IRS #Museum #RealEstate #IncomeTax https://www.propublica.org/article/how-private-nonprofits-ultrawealthy-tax-deductions-museums-foundation-art?utm_medium=social&utm_source=mastodon&utm_campaign=mastodon-post