It does nothing to preserve your own wealth even if it goes to a charity you control. It's no longer your wealth and unless you want to do something illegal its not coming back to you and can't benefit you.
Past a certain point the goal of having money is the ability to wield influence. If you donate money to charity you control you can still use that charity to wield influence.
> It's no longer your wealth and unless you want to do something illegal its not coming back to you and can't benefit you.
This is peak naivity - you are totally wrong.
Exanple one - charity can make political donations. Example two - can hire lobbyists. Example three - it can buy voting shares in companies you want to control. Example four - it can hire your family members or friends and pay them salaries.
You're calling somebody naive but your statement is nothing but lies.
> Exanple one - charity can make political donations
Under the Internal Revenue Code, all section 501(c)(3) organizations are absolutely prohibited from directly or indirectly participating in, or intervening in, any political campaign on behalf of (or in opposition to) any candidate for elective public office. Contributions to political campaign funds or public statements of position (verbal or written) made on behalf of the organization in favor of or in opposition to any candidate for public office clearly violate the prohibition against political campaign activity. Violating this prohibition may result in denial or revocation of tax-exempt status and the imposition of certain excise taxes.
> Example two - can hire lobbyists
In general, no organization may qualify for section 501(c)(3) status if a substantial part of its activities is attempting to influence legislation (commonly known as lobbying). A 501(c)(3) organization may engage in some lobbying, but too much lobbying activity risks loss of tax-exempt status.
> Example three - it can buy voting shares in companies you want to control
Which will lead to your tax-exempt status being revoked if it looks like you're doing business.
> Example four - it can hire your family members or friends and pay them salaries.
Which you can already do with your existing companies.
> Incorporated charitable organizations—like other corporations—are prohibited from making contributions in connection with federal elections. Unlike most other corporations, charities face additional restrictions on political activity under provisions of the Internal Revenue Code.
> Example three - it can buy voting shares in companies you want to contro
> to avoid violating U.S. Securities and Exchange Commission (SEC) regulations, your investments should not benefit your nonprofit’s employees or board members.
You can be employed by your own charity. Your own charity can provide you housing, cars, etc. even your vacation and travel can be paid for by your charity.
> You can be employed by your own charity. Your own charity can provide you housing, cars, etc. even your vacation and travel can be paid for by your charity
is this really true?
Your own charity can pay for your personal vacations and travel?
It’s not a vacation. It’s a mission trip. It’s not a plane ticket to Vegas. It’s a ticket to a charity summit. It’s not a club table fee, it’s a team building event.
Lots of ways to get what you want through qualified, albeit non frugal, business expenses.
It does nothing to preserve your own wealth even if it goes to a charity you control. It's no longer your wealth and unless you want to do something illegal its not coming back to you and can't benefit you.