The Orchid Site

Grow flowers: Live, Love, Learn

Peter Maffay

Hasso Plattner has billions Introduced the euro in its Foundation, Peter Maffay launched a social project for children in life. Business foundations were founded, for example the Merck Finck Foundation end of 2007, dedicated to various purposes, inter alia in the areas of education, art and culture. After founding a sufficient income must be generated first from the Foundation’s assets, to successfully make the work of the Foundation. Tax benefits of the establishment of a charitable trust or donating to such a foundation. Up to 20% of the total income can be transferred from the taxable income for contributions and advancements in the assets of a foundation in print. In addition the founder can either donate up to 1 million Euro tax deductible within ten years as asset stock donation or to donate and freely distribute this amount of up to ten years. The temporally unrestricted donations lecture is new. The amount of the deduction revive after a period of ten years.

Also the donations of inherited assets is tax favors. If heirs to the inherited assets within two years, a charitable foundation, the inheritance tax is eliminated retroactively. An establishment of the Foundation is not recommended without professional assistance in tax, legal and even conceptual terms. Therefore donors contact a financial institution that has many years of experience and a network of specialists. Merck Finck & co.

of private bankers supervised several donors at all stages of the establishment for a long time until to the successful continuation. Prof. Dr. Wilhelm Ahrens, Director of the hotel’s Foundation in Hamburg, pointing out the prerequisites for a successful establishment and stresses in particular the need for close cooperation with the Foundation supervision and the competent tax office before donation receipts are issued to the donor. This is enormously important in non-monetary gifts because the authorities follow not the amount of the donation receipt, then the Board of directors personally liable.