TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Monday, June 11, 2018

Why A $3.3 Million Lunch With Warren Buffett Is A Good Tax Move In 2018

Power LunchWall Street Journal, Winning Bid to Have Lunch With Warren Buffett: $3.3 Million
Forbes, Why A $3.3 Million Lunch With Warren Buffett Is A Good Tax Move In 2018:

Earlier this week, a charity auction to have lunch with Warren Buffett resulted in a winning bid of $3,300,100. The winning bidder, who has chosen to remain anonymous, won the right to eat with the billionaire at Smith & Wollensky steakhouse in New York City. The annual lunch with Buffett benefits Glide Foundation, which offers food, shelter, health care and other services to homeless and low-income people in San Francisco.

When you have the means to spend $3 million on lunch, you might not be looking for a tax break. But in this case, the bidder may qualify for one. Here's why it could make good tax sense this year:

  1. Bunching. ...
  2. Higher Contribution Limits. ...
  3. No more Pease limits. ...
  4. Record-keeping rules are still in place. ...

http://taxprof.typepad.com/taxprof_blog/2018/06/why-a-33-million-lunch-with-warren-buffett-is-a-good-tax-move-in-2018.html

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