--- In [email protected], bbrigante <[EMAIL PROTECTED]> wrote: > --- In [email protected], Rick Archer <[EMAIL PROTECTED]> wrote: > > on 5/15/05 5:52 PM, Vaj at [EMAIL PROTECTED] wrote: > > > > > > Several parts of Earl's letter seem like reaction formations-- but > other > > > parts ring true. One of the most disturbing was the report of Mahesh > > > lamenting his inability to milk the Kaplan's entire fortune. It > really > > > paints a sinister picture of a greed-crazed avaricious man that has > > > been heard again and again and again. Only this time you hear a > clear > > > source on this. I found it chilling in it's portrait of M. > > > > Fred Gratzon told a story of how he offered Maharishi all of his > money, or > > all of his stock in Telegroup, and Maharishi was angry at him. Then he > > offered him half of it, and Maharishi was pleased. If Cliff is > reading this > > perhaps he can clarify or elaborate. > > ********* > > Under U.S. tax laws, you can only give 50% of your income and deduct it > from your taxable income, so it's highly unlikely that Gratzon could > possibly have made a offer which would have resulted in his owing large > sums to the U.S. Treasury.
...but according to the poster, Gratzon didn't offer MMY his "income", he offered him his "money" or "all of his stock in Telegroup". Both his "money" (and, yes, there may be a bit that represented "income" in there) and his Telegroup stock were assets which he could donate to charity as he saw fit. I'm not an accountant but I don't think there is a restriction on how much of one's assets one can give a recognized charity (giving to individuals is an entirely different matter...that can trigger a gift tax if the annual gift is more than $11,000). Yes, there is a limit on how much of that gift can be deducted against adjusted gross income each year (I think you've got 6 years to deduct it, each year a maximum of 20% of AGI), but I don't think there's a limit to have much of your assets you can donate. To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
