Do people still not understand how donations/charities work? If they sold it for $100 and donated $100. Yes, they technically get a tax deduction. But it doesn’t change how much profit they made. If they had tossed it in the trash they’d still have the same amount of profit. They just aren’t paying tax on the $100 they sold it for because that money is being donated.
You don’t get to claim a tax credit on someone else’s charitable donations. In this situation, the buyer gets a proof of donation that they get to claim on their taxes. It wouldn’t be LMG deducting it.
Idk, taking someone else’s property, when not given permission, for your own tax deductions still sounds pretty shitty
Do people still not understand how donations/charities work? If they sold it for $100 and donated $100. Yes, they technically get a tax deduction. But it doesn’t change how much profit they made. If they had tossed it in the trash they’d still have the same amount of profit. They just aren’t paying tax on the $100 they sold it for because that money is being donated.
You don’t get to claim a tax credit on someone else’s charitable donations. In this situation, the buyer gets a proof of donation that they get to claim on their taxes. It wouldn’t be LMG deducting it.