High Income with a Passion for Charity

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This past week, “Taxmageddon 2018: How to Brace for the Trump Tax Plan” launched on Amazon. The book shot to #1 in six separate Amazon categories and has received rave reviews across the Internet.

I think the success of the book is largely because it’s in plain English. The strategies are actionable. All you need to do is find out which one is right for you and implement. We’ll help you with that, too, when you register your book according to the information in Chapter 16 of Taxmageddon 2018.  Here’s what GoodReads had to say:

Let’s look at Strategy #8: High Income, Charitable Cause. This comes from Taxmageddon.

High Income Charitable Cause. Create your own 501 (c)(3) to support your charitable passion

while building a future for yourself.

A new client with a very high paying job in the tech industry was looking for a way out.

“What do you want to do?”, I asked.

She was buying up real estate to provide passive cash flow when she left her job. But it seemed like her heart wasn’t really into it. I understand that. Real estate can be a great way to provide passive income, appreciation and tax breaks, but not everyone loves it.

She thought for a second and then blurted out, “I want to help the homeless problem in the US.”

She then went on to tell me about the details for a master plan to provide shelter and counseling for some of the most disenfranchised people in our society. It was a workable plan and it was clear she had a lot of passion.

And, it was something that could give her a tax break right now. Normally, we talk about the tax breaks for real estate but because she had another job and her income was high, she couldn’t take advantage of the paper losses from real estate.

Charitable donations, though. That was something that she could deduct.

She set up her own non-profit with the 501 (c) (3) designation and began funding it with deductible donations. Some of the money went to existing programs. Some of it was saved up for some bigger projects.

All of the donations were deductible.

At some point, she plans to quit her tech job and go to work for her charity. At that point, her income will be much lower and she plans to live on $50,000 or less per year. It’ll be taxable income for her, but the tax she pays at the lower tax rate will be much lower than the tax benefit she got for the donation made when her income was higher.

In a way, it’s like buying for a future annuity. In this case, she’s building toward her dreams of helping others.

“Taxmageddon 2018 discloses the secrets that the rich use to pay a lot less tax under the Trump Tax Plan. Americans from all walks of life can use these same strategies to lower their tax bill. With this handy guide, you’ll learn how you can put your own plan in place before it’s too late. The book reveals 95 strategies that are available RIGHT NOW, any one of which could save you thousands in taxes. Plus, once you register your book you’ll receive immediate access to $1,499 worth of bonuses including agreements, tax election templates and other valuable tools to help you implement the strategies. Got a question? Make sure you join the Insider’s Club which is available only to Taxmageddon readers. Information to join is all inside the book. If you are ready for a different (and better) result with your taxes, this guide by best-selling author Diane Kennedy, CPA is the one you need now!”

You pick up your copy of Taxmageddon 2018 now at www.Taxmageddon2018.com

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