"Borrowing" from ‘future tithing trust’ to avoid taxes. - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

8ballrollin · 02-22-2007, 12:32 AM

Interesting idea, I guess. It didn't work so well in practice. “A” for effort, but an “F” for legality, according to the IRS and a jury...

"The government alleged that the Cooks improperly redirected royalties from Wade Cook's publications into a trust that, at least on paper, was eventually going to become a gift to the Mormon church. The government alleged the royalties were directed into the trust so that the Cooks would not have to report the money as personal income."

"Former stock guru found guilty of tax fraud"
http://seattletimes.nwsource.com/htm...ecook21m0.html

02-22-2007, 12:32 AM	#1
8ballrollin Senior Member Join Date: Jan 2006 Location: WA Posts: 1,287	"Borrowing" from ‘future tithing trust’ to avoid taxes. Interesting idea, I guess. It didn't work so well in practice. “A” for effort, but an “F” for legality, according to the IRS and a jury... "The government alleged that the Cooks improperly redirected royalties from Wade Cook's publications into a trust that, at least on paper, was eventually going to become a gift to the Mormon church. The government alleged the royalties were directed into the trust so that the Cooks would not have to report the money as personal income." "Former stock guru found guilty of tax fraud" http://seattletimes.nwsource.com/htm...ecook21m0.html