return2ozma@lemmy.world to News@lemmy.world · 2 days agoBill Gates Admits to Affairs with 2 Russian Women While Married to Melinda and Apologizes to Staff for Past Epstein Tiespeople.comexternal-linkmessage-square52fedilinkarrow-up1348arrow-down15
arrow-up1343arrow-down1external-linkBill Gates Admits to Affairs with 2 Russian Women While Married to Melinda and Apologizes to Staff for Past Epstein Tiespeople.comreturn2ozma@lemmy.world to News@lemmy.world · 2 days agomessage-square52fedilink
minus-squareSerinus@lemmy.worldlinkfedilinkarrow-up4arrow-down6·2 days agoThat’s not how taxes and charity works. If you spend $100 minutes on charity and “write it off”, that saves you $30 on taxes. You’re still down $70. (You only can claim itemized deductions if you have more than, roughly $12k of them, 24k if you’re married.)
minus-squarematlag@sh.itjust.workslinkfedilinkarrow-up12·1 day agohttps://cagj.org/2020/04/the-nation-bill-gatess-charity-paradox/ You still assumes big money operates like commoners. That’s never the case.
minus-squareKnock_Knock_Lemmy_In@lemmy.worldlinkfedilinkarrow-up9arrow-down1·1 day ago If you spend $100 minutes on charity and “write it off”, that saves you $30 on taxes. You’re still down $70. But if you own and control that charity then all you have done is move $100 from one pocket to another, avoiding giving $30 to the government.
minus-squareQinShiHuangsShlong@lemmy.mllinkfedilinkarrow-up8·2 days agoYeah except those charities all happen to need to spend 90% of Bill’s donations on Microsoft products.
That’s not how taxes and charity works.
If you spend $100 minutes on charity and “write it off”, that saves you $30 on taxes. You’re still down $70.
(You only can claim itemized deductions if you have more than, roughly $12k of them, 24k if you’re married.)
https://cagj.org/2020/04/the-nation-bill-gatess-charity-paradox/
You still assumes big money operates like commoners. That’s never the case.
But if you own and control that charity then all you have done is move $100 from one pocket to another, avoiding giving $30 to the government.
Yeah except those charities all happen to need to spend 90% of Bill’s donations on Microsoft products.