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Because the charity can expense things you can use without anyone paying taxes on anything. Charity holds a conference at a resort, that's an operating expense
by pwinnski 4y ago
Because the charity can expense things you can use without anyone paying taxes on anything.
Charity holds a conference at a resort, that's an operating expense. Present are the officers of the company, which is you and your friends and family. All expenses for the charity, paid from the million, and therefore untaxed.
- s1artibartfast 4y agoStill seems like a pretty crappy deal to me and negative expected value. More so if you have your own Corporation that can do all those things. I feel like there is a n Physical limit on the number of tax deductible meals and vacations someone and their family can consume
- pwinnski 4y agoYour own corporation pays corporate taxes that a non-profit does not, and you cannot transfer personal wealth to a corporation without paying taxes on it as you can with a non-profit.