Family Foundation Lets You Do Good For Others And Yourself
A family foundation lets you become a philanthropist even if you’re not as wealthy as Bill Gates. But don't treat a nonprofit like a hobby or use it to an unreasonable personal advantage. To stay on the good side of the Internal Revenue Service, you must run it like a business.
More retirees are starting family foundations—with as little as a few hundred thousand dollars—to help a favorite cause directly. Other potential b..