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A comment on Tech Billionaires Hack Their Taxes with a Philanthropic Loophole. Parent comment

Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by petilon on Sunday August 05, 2018 @04:20PM (#17693325)
>> You don't get it back.

Yes, you can get it back. All the donor has to do is find a recipient who agrees to buy goods or services from his/her company for above-market prices, in exchange for receiving the donation. It's called a quid-pro-quo arrangement.

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Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by NelsonMinar on Sunday August 05, 2018 @05:32PM (#17693654)
That is explicitly illegal. Not saying it doesn't happen (particularly with education) but it's illegal. FWIW, the Schwab DAF has a checkbox I'm required to check every single grant promising there is no quid pro quo. I suppose people lie on that.
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Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by TomMarius on Sunday August 05, 2018 @04:21PM (#17693330)
Is that common with IRS-approved charities?
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Re:Tech Billionaires Hack Their Taxes with a Philanthropic L... by petilon on Sunday August 05, 2018 @04:30PM (#17693371)
The charity in this case is Silicon Valley Community Foundation. They may not be aware of any secret deals made between the donor and the recipient. The charity just gives money to whoever the donor directs them to give to.

The fact that the donor directed the donation is hidden from public, which allows this kind of abuse to occur.

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