Re:How the Rich Reap Huge Tax Breaks From Private Nonprofits
by gruez on Sunday July 30, 2023 @06:21PM
(#36936599)
>Because you donated huge sums to your nonprofit, it reduced your tax burden by a significantly high amount
You know what also reduces your tax burden by a significant amount? Not taking the money out of your business and putting your friends/relatives on the payroll. That it also doesn't get taxed because it's a business expense. I'm not sure what the point of going through the charity is.
You know what also reduces your tax burden by a significant amount? Not taking the money out of your business and putting your friends/relatives on the payroll. That it also doesn't get taxed because it's a business expense. I'm not sure what the point of going through the charity is.