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Not sure about companies, but as an individual, political contributions are NOT tax-deductible.[1] On a personal note, I like Andrew Yang's approach to wash ou
by andyjsong 7y ago
Not sure about companies, but as an individual, political contributions are NOT tax-deductible.[1]
On a personal note, I like Andrew Yang's approach to wash out special interest groups and lobbyist with "democracy dollars" [2] of $100 for every citizen. Apparently it's been working in Seattle, but would love to hear from any Seattlites on the progress of the program.
[1] https://blog.turbotax.intuit.com/tax-deductions-and-credits-2/are-your-political-campaign-contributions-tax-deductible-11380/ https://blog.turbotax.intuit.com/tax-deductions-and-credits-...
[2] https://www.yang2020.com/policies/democracydollars/ https://www.yang2020.com/policies/democracydollars/
- dumbfoundded 7y agoTechnically, they are not political contributions. They are donations to non-profits like Americans for Prosperity. Legally a non-profit can use 49% of their money to influence elections directly and the other 51% can push individual issues that are very politically charged.
- andyjsong 7y agohttps://www.dropbox.com/s/8bo0ard89lf94bw/Screenshot_20190920-234938.png?dl=0 https://www.dropbox.com/s/8bo0ard89lf94bw/Screenshot_2019092... Almost right, Americans for Prosperity are a non-profit, but it's not tax deductible. That being said I know most church donations are tax deductible and I've read that they lobby. While not all of your proceeds will go to political campaigns, at at least it will be tax deductible. Better yet, just start your own church super PAC and have it focused solely on politics. Then you get captial efficiency and tax deductions.
- loeg 7y agoDunno about anyone else in Seattle, but I've never used my democracy vouchers.