I know this sounds crazy, but what if your business partner could be a nicer, more generous version of you? That's right, you can give a portion of your business to a charitable entity that you "control" (this is in quotes because the IRS says that you "advise", not control), called a Donor Advised Fund (DAF).
There are some incredible organizations that help make this process SUPER EASY. I used to just tell people about it when I worked for National Christian Foundation (NCF). Last year, I was able to actually do it and it was even EASIER than I thought it would be.
If this piques your interest, check out a couple of stories of people who have done this. Glad to discuss if interested.
https://www.ncfgiving.com/stories/3-real-life-examples-that-show-the-power-of-giving-private-business-stock/?j=###-###-#### &sfmc_sub=###-###-#### &l=2050_HTML&u=###-###-#### &mid=###-###-#### &jb=3004
Thanksgiving: Is there a better time to GIVE your business away?
by an investor from Baylor University
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