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Again, distinction without a difference. Is it a "funding allocation" if I was going to spend $100 on a night out but choose to donate it instead? It's both. An
by brandon272 9y ago
Again, distinction without a difference. Is it a "funding allocation" if I was going to spend $100 on a night out but choose to donate it instead? It's both. And still just as much a donation.
- Retric 9y agoErr, if this is not clear to you. You can setup a charity and get a tax deduction in the year you set it up without actually allocating the money. Now that it's in the charity it's not your money in that you can't legally use it on a night out. So, there is a very big difference in donation = tax deduction, allocation = no additional tax deduction.