x10003q wrote
D.B. Cooper wrote
Donate
- At $500M, I'd donate probably up to 20% of that. Probably to no more than 4 charitable organizations.
First, you would have to donate about $200M to the Feds and whatever you would owe your state (about 45M here in NJ).
Now you can start your calculations.
You'd owe on what didn't donate minus the amount you did, assuming your donation was tax deductible. That's to say if you gave 100M (20% of 500M), you'd owe on 300M (400M-100M is the taxable amount). So he'd probably pay about 120M in Fed tax.
If you donate half of it, none of it goes to taxes because your taxable amount would be zero.
This is how insanely rich people get to choose where they want their money to go, pay almost no tax, and still be insanely rich.