Also, the US has a lot of “museums” that are operated primarily as tax shelters.
Some collector out there wants to dodge some taxes? He opens up a nonprofit org and starts a ‘museum’ of his collection display … open every 3rd Tuesday, between the hours of 10:00PM and 10:15PM … unless there’s a federal holiday anytime in that month, in which case the museum is closed. Then he can do things like dodging property taxes due to the property being a nonprofit museum, counting purchases for his collection as tax-deductible donations to the museum, etc.
Also, the US has a lot of “museums” that are operated primarily as tax shelters.
Some collector out there wants to dodge some taxes? He opens up a nonprofit org and starts a ‘museum’ of his collection display … open every 3rd Tuesday, between the hours of 10:00PM and 10:15PM … unless there’s a federal holiday anytime in that month, in which case the museum is closed. Then he can do things like dodging property taxes due to the property being a nonprofit museum, counting purchases for his collection as tax-deductible donations to the museum, etc.