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Some donations are tax deductible. Many donors will just use money they would initially use for taxes. That's probably why retired billionaires become philanth
by partycoder 8y ago
Some donations are tax deductible. Many donors will just use money they would initially use for taxes.
That's probably why retired billionaires become philanthropists.
- voidmain 8y agoThat isn't how tax deductions work. Even very tax efficient giving will not save you $1.00 of taxes when you give $1.00!
- partycoder 8y agoBut if someone donates you money, and your foundation donates that money, you can offset that.