Giving up an interest in a business may provide owners with an opportunity to increase their current charitable giving while concurrently reducing tax liability. Most business owners are not cognizant of the fact that they can donate a portion of their business to a charitable cause. Generally, giving up such an interest has little to no impact on the owner’s lifestyle, business capitalization, or cash flows. For business owners interested in giving back to their communities, implementing a business-interest strategy can greatly increase charitable support and transform a business into “a powerful engine for greater impact and generosity.”
See Michael L. King, J.D., Michael King: The Generous Business, Wealth Strategies Journal, January 29, 2018.
