You get back what you paid in taxes on that dollar, the government doesn’t give you back one dollar for every dollar you send to charity, that would be completely idiotic.
Try giving 100% of your income to charity and see how that goes. Hell, with the way you think it works why wouldn’t you just send all your savings to charity? You’re saying you’ll get the money back anyway, why not go a good thing while you’re at it? Heck, why not make it an infinite loop, give money charity, get it back, and it again, do it over and over again, infinite money glitch for the charity of your choice!
That’s cute how you’re putting words in my mouth and pretending to be a tax expert. Kinda funny that you’re a tax expert who doesn’t know what AGI means lol.
Buddy, these people don’t make 100k. They make 100M. 100% of their charitable contributions count against their tax burden. Please read the articles I linked before you continue to reply with nonsense
Except you claim every dollar of your donation, not 30%?
You get back what you paid in taxes on that dollar, the government doesn’t give you back one dollar for every dollar you send to charity, that would be completely idiotic.
Try giving 100% of your income to charity and see how that goes. Hell, with the way you think it works why wouldn’t you just send all your savings to charity? You’re saying you’ll get the money back anyway, why not go a good thing while you’re at it? Heck, why not make it an infinite loop, give money charity, get it back, and it again, do it over and over again, infinite money glitch for the charity of your choice!
That’s cute how you’re putting words in my mouth and pretending to be a tax expert. Kinda funny that you’re a tax expert who doesn’t know what AGI means lol.
That’s exactly what you said
You give 100k to a charity, it’s used to pay the salary of an employee, 20% in taxes is paid on that, somehow the government is out 80k.
Well no buddy, the government is out the difference between what you had to pay in taxes on that 100k and the 20k in taxes the employee pays.
Buddy, these people don’t make 100k. They make 100M. 100% of their charitable contributions count against their tax burden. Please read the articles I linked before you continue to reply with nonsense