Warning: Some posts on this platform may contain adult material intended for mature audiences only. Viewer discretion is advised. By clicking ‘Continue’, you confirm that you are 18 years or older and consent to viewing explicit content.
Do people still not understand how donations/charities work? If they sold it for $100 and donated $100. Yes, they technically get a tax deduction. But it doesn’t change how much profit they made. If they had tossed it in the trash they’d still have the same amount of profit. They just aren’t paying tax on the $100 they sold it for because that money is being donated.
Do people still not understand how donations/charities work? If they sold it for $100 and donated $100. Yes, they technically get a tax deduction. But it doesn’t change how much profit they made. If they had tossed it in the trash they’d still have the same amount of profit. They just aren’t paying tax on the $100 they sold it for because that money is being donated.