You are viewing a single thread.
View all comments View context
1 point
*

That’s a wild misrepresentation of how write-offs work.

If your tax rate is 30% and you make write off a charitable donation of $100, your tax bill goes down $30. Spending 100 dollars to save 30 isn’t the key to riches.

There’s no way to save money through charitable donations.

permalink
report
parent
reply
1 point
*

How is that a misrepresentation? You justified what I said.

permalink
report
parent
reply
1 point

The implication was that they make donations for the write-offs. That’s not accurate, because it’s never cheaper to make a donation and write it off than it is to just pay the taxes.

permalink
report
parent
reply
1 point

Not quite never. You just need the tax rate plus marginal change in lost benefits/increased obligations to exceed 100%. For example there’s a breakpoint in the UK around childcare over 100k income that makes it way worth salary sacrificing to get below if you have kids. I can imagine there are similar niche things for small businesses around audit requirements or whatever, but not enough of an expert to know.

permalink
report
parent
reply

People Twitter

!whitepeopletwitter@sh.itjust.works

Create post

People tweeting stuff. We allow tweets from anyone.

RULES:

  1. Mark NSFW content.
  2. No doxxing people.
  3. Must be a pic of the tweet or similar. No direct links to the tweet.
  4. No bullying or international politcs
  5. Be excellent to each other.
  6. Provide an archived link to the tweet (or similar) being shown if it’s a major figure or a politician.

Community stats

  • 9.3K

    Monthly active users

  • 1.1K

    Posts

  • 33K

    Comments