Comment on THIS always annoys me.

MagosInformaticus@sopuli.xyz ⁨1⁩ ⁨month⁩ ago

• surewhynotlem@lemmy.world ⁨1⁩ ⁨month⁩ ago

  This isn’t correct.

  If they get an extra million in these donations, they can deduct that extra million. It’s a net zero improvement. It does not help them at all financially.

  But it’s free good will and they can advertise that THEY donated a bunch. It’s just to make them look good.

  source

  • entwine413@lemm.ee ⁨1⁩ ⁨month⁩ ago

    They can’t actually deduct a penny from it.

    source

    • surewhynotlem@lemmy.world ⁨1⁩ ⁨month⁩ ago

      They can claim it’s not income and they’re simply passing the money through. They don’t pay taxes on it.

      source

      • entwine413@lemm.ee ⁨1⁩ ⁨month⁩ ago

        Because it’s not income and they’re just passing the money through. Why would they pay taxes on it?

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• entwine413@lemm.ee ⁨1⁩ ⁨month⁩ ago

  You’re wrong. Companies that collect donations on behalf of a charity can’t deduct a single penny of it.

  source