The Power of Private Family Foundations: Tax Benefits, Legacy, and Philanthropy Explained I Chris McCormack & Daniel Kaminski

In this episode of the Know Your Numbers REI podcast, host Chris sits down with Daniel Kaminski, founder of Foundation Launch, to explore the world of private family foundations. Daniel shares his journey from co-founding Better Wealth to establishing his own family foundation, highlighting the importance of understanding the intricacies of charitable giving.Discover what a private family foundation is, the benefits it offers, and why it’s an attractive option for those looking to manage their charitable contributions effectively. Daniel dives into the mechanics of setting up a foundation, the tax advantages, and the potential pitfalls to avoid, including self-dealing and compliance issues.If you enjoyed this episode, leave a five-star review and stay tuned for more insightful discussions on the Know Your Numbers REI podcast. Subscribe now and keep moving forward in your real estate journey!•••••••••••••••••••••••••••••••••••••••••••To connect with Daniel Kaminski, visit his Social Media Platforms:Instagram: https://www.instagram.com/right_hand_dan/LinkedIn: https://www.linkedin.com/in/danieljkaminski/Website: https://www.foundationlaunch.com/Twitter: https://x.com/DanKaminskiTax••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.