5 ms·
It sounds like you're suggesting that every dollar donated to a non-profit entity results in a dollar less of payable taxes -- I'm not aware of a country with a
by wcarss 7y ago
It sounds like you're suggesting that every dollar donated to a non-profit entity results in a dollar less of payable taxes -- I'm not aware of a country with a tax/donation trade-off like that, but would be interested to hear about it if you do.
The best deal that I'm aware of is a reduction in your reported taxable income equal to the donation, resulting in a savings of the affected tax bracket rates * the dollars donated per bracket, but even that kind of thing is somewhat limited as far as I'm aware (eg up to x% of income is allowed per year).
I might have just misunderstood you -- either way, curious if you know something about donations I don't or had a different idea in mind!
- ipython 7y agoYou can get close by purchasing tax credits in some states - see for example https://www.capfin.net/blog/a-powerful-charitable-donation-option-for-virginians https://www.capfin.net/blog/a-powerful-charitable-donation-o...