2 ms·
Giving money to charity isn't a tax break. Sure you won't have to pay taxes on that money but that will be money I no longer have. If I don't give $100 to a cha
by stjohnswarts 4y ago
Giving money to charity isn't a tax break. Sure you won't have to pay taxes on that money but that will be money I no longer have. If I don't give $100 to a charity that would have been taxed at 35% (e.g.), My bank account goes down $100 still, the government loses $35 they would have gotten as taxes (fed+state/local), but the hacker space got $100. If I hadn't donated I would get to keep $65 and the government $35, but I wouldn't have helped hackerspace at all. So it's not a tax break, it's a charitable donation.