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Do people donate for the tax write-off or do they donate and happen to enjoy an additional tax write-off benefit?
by heliodor 6y ago
Do people donate for the tax write-off or do they donate and happen to enjoy an additional tax write-off benefit?
- 8fGTBjZxBcHq 6y agoRich people absolutely do donate things for the tax writeoffs. Land and art especially can have on-paper values significantly different from what you could actually receive from selling them at a given time. I can't find it now but a few months ago there was an interesting article going around about this written by an accountant. A large part of the work of accounting is matching different appraisal methods to best fit the needs of the person at any given time. Donations definitely factor into this.