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On Mar 29, 12:28 am, "Burr" wrote:
I can understand the "don't see" part. I'm not a tax person so I won't say more. Burr No shame in not understanding the tax part - few people do. Most people hear the "it's a tax write off" and assume that if one donates $100 to charity they may deduct $100 off their taxes. That isn't how it works, you can deduct the $100 from your gross income, not your tax liability. You do decrease your tax liability some but not to the amount you gave away. Of course when talking about corporations they likely aren't paying any taxes to begin with so it is a moot question. |
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