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How does that work? Does it save more than 7m in tax?
by quickthrower2 3y ago
How does that work? Does it save more than 7m in tax?
- AtlasBarfed 3y agoAnd why wouldn't paying that to devs be the same writeoff? This smells of astroturfing.
- whstl 3y agoIt is probably just a very uninformed comment. There is even a scene in Seinfeld exactly about this: https://www.youtube.com/watch?v=BAjxn2US7J8 https://www.youtube.com/watch?v=BAjxn2US7J8
- quickthrower2 3y agoI think this is a real tax write off: https://www.nytimes.com/2018/08/03/business/donor-advised-funds-tech-tax.html https://www.nytimes.com/2018/08/03/business/donor-advised-fu...
- deafpolygon 3y agoNo... say Mozilla Corp. owes 5m in taxes. They could pay the tax directly to IRS. Or they can donate/invest in a registered non-profit company. A percentage of that can be written off as a tax deduction. Since donating money also reduces the available amount that can be taxed... and they can be seen as charitable. It's a win-win depending on how you do it. It looks like Mozilla Foundation also invested ~8m back to Mozilla Corp. for something but it's not clear what. I may have misunderstood it. I'm not a tax expert nor a lawyer, but it's a common tax strategy.
- mcv 3y agoYeah but if that tax write-off ends up all in the pocket of the CEO, it starts to look more like a tax dodge scheme for the CEO.
- deafpolygon 3y agowhy? this is how the system works and corps are incentivized to do so.