Why do some millionaires and billionaires help people who are in need by their foundations, etc. whereas many don't? Do they open foundations just to save their taxes?
Some billionaires and millionaires help the needy by setting foundations that purely aim at supporting them improve on their living standards. Others do this to establish a base for avoiding payment of taxes to the national authority.
Answer and Explanation:
According to the structure of tax regulations, payment of taxes rises as the amount of income go up for different individuals. For instance, the...
See full answer below.
Become a member and unlock all Study Answers
Try it risk-free for 30 daysTry it risk-free
Ask a question
Our experts can answer your tough homework and study questions.Ask a question Ask a question
Learn more about this topic:
from Introduction to Business: Homework Help ResourceChapter 13 / Lesson 17