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WAYYYY OT :( |
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On Saturday, December 3, 2016 5:34:56 PM EST Rich Freeman wrote: |
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> On Sat, Dec 3, 2016 at 5:09 PM, William L. Thomson Jr. |
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> |
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> Actually, it is the opposite. When you spend money as an individual |
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> in the US it normally doesn't lower your taxes unless there is some |
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> special tax deduction for it, such as the mortgage interest deduction. |
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> One of those deductions is donations to 501c3/etc status. So, there |
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> is a benefit to an individual when donating to a 501c3 organization |
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> (or other deductible classes) because it lowers their tax burden. |
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Gentoo has no official status with the IRS, 501c6, or 501c3, etc. Any write off |
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would have to be categorized otherwise. |
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> So, money given to Gentoo by a private business is the same as money |
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> spent on toilet paper or money thrown in the furnace as far as tax |
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> liability goes. It increases expenses which means it decreases |
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> profits. |
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It depends on how a business or anyone wants to categorize. You can only |
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deduct so much in any category. |
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-- |
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William L. Thomson Jr. |
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