340
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 26 Mar 2024
340 points (95.9% liked)
News
23263 readers
3845 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
No, that’s not how it works. PLEASE read the article or poke around the IRS website on your own. It does not count against your income, it counts directly against the taxable amount you owe.
How about YOU check the IRS website
https://www.irs.gov/credits-and-deductions-for-individuals#:~:text=A%20deduction%20is%20an%20amount,them%20in%20the%20right%20forms.
https://marshalljones.com/how-much-do-charitable-donations-reduce-taxes/
How to Calculate the Tax Benefits of Donating to a NonprofitSo how much do you get back with tax deductible donations? You can determine your savings from making charitable donations with this straightforward calculation. Multiply your marginal tax rate by the value of your contributions.For example, if your rate is 32% and you contributed $10,000 in cash, goods or both, you’ll end up saving $3,200 at tax time.Is that dumbed down enough for you? You give 10k, you get back 3.2k, your donation cost you 6.8k at the end of the day.
If all of it goes to salary it becomes taxable income for the person getting it so they pay taxes on that 10k.
It's why the people donating 130m got 38m back and if you had taken the time to read the article you would have realized that the 38m was spread over multiple years because the government doesn't just hand money, they reduce your taxable income to zero and then the rest carries over to the next year until you reach zero dollars left of your donation. In their case the 130m donation still cost them 92m compared to selling it to a private party for the same price!
The IRS granted the foundation tax-exempt status. That allowed the Johnsons to collect more than $38 million in tax savings from the estate over five years, confidential tax records show.Well fuck me