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Chapter 33 Kwok Charitable Foundation
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... r is the need to integrate into American society.
The rationale for tax avoidance is simple. In the United States, private charitable foundations only need to pay 1-2% of the federal tax, and 5% of their annual net income is invested in charity, and they do not need to pay or spend any funds. If Guo Shouyun wants to hand over the charitable fund to his next generation, he does not need to pay high inheritance tax and gift tax.
Of course, private charitable funds can avoid taxes, bu ...
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