A Tax Planning Cautionary Tale: Timing and Formalities Are Critical

Contributing sentiments towards policy:

50% : Many of the tools used to minimize income tax in this situation have a charitable giving component.
48% : The assignment of income doctrine is a long-standing "first principle of income taxation" that recognizes that income is taxed to those "who earn or otherwise create the right to receive it" and that tax cannot be avoided by "anticipatory arrangements and contracts however skillfully devised."
43% : Note also that the seller has no say in how the $6 million in tax is spent by the government.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.