Comment on Don't we all hate this

Retro_unlimited@lemmy.world ⁨21⁩ ⁨hours⁩ ago

• Eczpurt@lemmy.world ⁨21⁩ ⁨hours⁩ ago

  Not only do they get the credit, they also get tax benefits from the donation.

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  • CompactFlax@discuss.tchncs.de ⁨21⁩ ⁨hours⁩ ago

    I don’t think they can get a tax break, but they definitely get the media attention.

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    • daannii@lemmy.world ⁨19⁩ ⁨hours⁩ ago

      Well if they donate that money to their own charity then I’m sure they figure out some way to keep most of it. "Admin costs " and such.

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    • JangleJack@lemmy.world ⁨21⁩ ⁨hours⁩ ago

      They totally do, at least in the USA they do. Well documented corporate practice.

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      • CompactFlax@discuss.tchncs.de ⁨21⁩ ⁨hours⁩ ago

        Assuming the business is following the law, it will not include your donation as part of its business receipts, or income, nor will it claim the charitable gift as an expense. 

        In other words, your gift has zero impact on the store’s income taxes. Keep in mind that the store chooses the receiving charity, so make sure it is one you can support. As a customer, the donation will appear on your receipt and you can claim it as a charitable deduction when you file your income tax return.

        taxpolicycenter.org/…/who-gets-tax-benefit-those-…

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      • ParlimentOfDoom@piefed.zip ⁨14⁩ ⁨hours⁩ ago

        False. This is an oft repeated myth.

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      • daychilde@lemmy.world ⁨18⁩ ⁨hours⁩ ago

        Bring the proof. Because it’s a myth.

        www.usatoday.com/story/news/…/7622379002/

        So, let’s see your documentation please.

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  • iamthetot@piefed.ca ⁨19⁩ ⁨hours⁩ ago

    This old myth still… They do not get any tax benefits. That’s not how taxes work. The donation is your donation. You can claim it on your own taxes if you itemize deductions.

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  • surewhynotlem@lemmy.world ⁨18⁩ ⁨hours⁩ ago

    They make a dollar, they donate a dollar. No change to tax.

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