I find tax codes in the US (and basically every other country) very frustrating, not because the tax is big, but for all the bureaucratic burden
I thought I could circumvent the whole problem by putting most of my hard-to-deal-with assets into a charitable fund, and then not worry about taxes there at all. However, DAFs don’t quite solve the issue since they are very limited in where I can invest. There are also options such as “Charitable Trusts” and “Private Foundations,” but they seem to create lots of overhead.
Is there an option that I’m missing? In an ideal case, I would like to have fully functioning brokerage and crypto exchange accounts where I can make any transactions tax-free, given that all of the money I earn must be donated in the end.
I don’t think you are really missing anything. Your best bet might be to find (or found) a DAF with similarly-minded people . . . but that DAF is still going to have to deal (in the US at least) with state-law prudent investment laws for charities. I don’t know which states are more open to adventurous investments.
What you’re describing is closest to a private foundation, and Congress put tighter rules on private foundations because it perceived certain downsides.
I find tax codes in the US (and basically every other country) very frustrating, not because the tax is big, but for all the bureaucratic burden
I thought I could circumvent the whole problem by putting most of my hard-to-deal-with assets into a charitable fund, and then not worry about taxes there at all. However, DAFs don’t quite solve the issue since they are very limited in where I can invest. There are also options such as “Charitable Trusts” and “Private Foundations,” but they seem to create lots of overhead.
Is there an option that I’m missing? In an ideal case, I would like to have fully functioning brokerage and crypto exchange accounts where I can make any transactions tax-free, given that all of the money I earn must be donated in the end.
I don’t think you are really missing anything. Your best bet might be to find (or found) a DAF with similarly-minded people . . . but that DAF is still going to have to deal (in the US at least) with state-law prudent investment laws for charities. I don’t know which states are more open to adventurous investments.
What you’re describing is closest to a private foundation, and Congress put tighter rules on private foundations because it perceived certain downsides.