Taxing The Third Space
To become more specific to our situation: our physical fitness facility, bookstore and coffee shop, exist to meet a primal spiritual need: human connection with our fellow believers in the midst of an increasingly impersonal urban space. This is particularly crucial for the low income and immigrant populations to which we minister in great numbers. In safe community with their fellow Christians, immigrants learn English, acquire the cultural knowledge necessary to adapt to American life, and accept the growing responsibilities of church membership
Splitting Up Family Assets Can Raise Estate Taxes
The thing I wonder about is whether the planning might have worked if rather than enhancing the Trust’s ownership in CI LLC, it had been slightly diluted. If the Trust’s interest were cleanly below 50%, higher discounts should have held up. The terms of the loan negotiated strike me as over the top, but with less than 50% ownership, the Trust would not be in a position to force distributions. The deficiency was over $58,000,000 which seems like it would have given the next generation quite an incentive to hang in for a little longer.
Follow Me
Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.