I went through the introduction to Private foundations. I was wondering if there are specific income or profit thresholds that make it worthwhile to establish one. For instance, if a W2 employee earns $300,000 annually or a business owner has $100,000 in annual profits, would those scenarios justify the creation of a private foundation?

Hi everyone! 👋 I'm Daniel David and I just joined this amazing community. As an entrepreneur, I'm excited to connect with like-minded individuals who are committed to personal growth and making an impact. I believe in challenging the status quo and pushing beyond limits, and I can't wait to dive into the resources here and support each other on this journey. Looking forward to getting to know all of you and growing together! 💪

I’m an entrepreneur, author, and investor based in the San Francisco Bay Area. My investment portfolio is heavily focused on real estate, which makes up 50% of my holdings, while the remainder is diversified across stocks, cryptocurrencies, startups, and other assets. I’m familiar with strategies like captive insurance, conservation easements, and oil and gas investments. For my 2023 tax returns, I utilized Real Estate Professional status. I have a tendency to chase new opportunities (shiny object syndrome) and am always eager to explore the next tax-saving strategy. I’m not familiar with private foundations, so I’m looking forward to learning more from this group.