gift tax

How Mega Millionaires Escape Paying Taxes

Gerry W. Beyer
March 21, 2012 15:00

Max R. Levchin, chairman of the social review site Yelp, sold 3.1 million shares of the company held in his Roth individual retirement account in 2010. He received $10.1 million from the sell, and while most of the amount was...

Charitably Inclined

Gerry W. Beyer
March 13, 2012 11:00

Wealthy individuals give to charity for a variety of reasons, but one of the most common reasons the wealthy donate is “legacy.” According to one British billionaire, John Caudwell, making money and gaining business success are not rewarding enough—seeing how...

Article on Romantic Gifts

Gerry W. Beyer
March 10, 2012 02:00

Ruth Sarah Lee (Student, Harvard Law School) recently published her article entitled, A Legal Analysis of Romantic Gifts (HLS John M. Olin Student Fellowships in Law and Economics Working Paper No. 136)(Feb. 15, 2012). The abstract available on SSRN is...

Facebook Co-Founders Using GRATs Effectively

Gerry W. Beyer
March 08, 2012 02:11

Mark Zuckerberg and Dustin Moskovitz co-founded Facebook and are now two of the world’s youngest billionaires. The two have been advised to set up grantor retained annuity trusts (GRATs) to transfer approximately $185 million to trust beneficiaries without paying gift...

Lawsuits surround Waffle House Lottery Win

Gerry W. Beyer
March 07, 2012 20:00

Edward Seward regularly went to Waffle House to eat and he would bring lottery tickets from Florida to share with family, friends, and employees at the Waffle House. Most of the tickets were not winners, but on March 7, 1999,...