▲ 913 ▼ Tax Deductions (lemmy.world) submitted 2 years ago* (last edited 2 years ago) by ekZepp@lemmy.world to c/antiwork@lemmy.world 93 comments fedilink hide all child comments Source olgaf (very NSFW sex/commedy comics)
[–] FlyingSquid@lemmy.world 12 points 2 years ago (2 children) Corporations collect taxes? permalink fedilink source parent hideshow 4 child comments replies: [–] Primarily0617@kbin.social 17 points 2 years ago (1 child) No but they "donate to their local community" to get tax deductions / write offs permalink fedilink source parent hideshow 2 child comments replies: [–] Kiosade@lemmy.ca 4 points 2 years ago (2 children) Let me ask you something: Do you think that when corps donate, they get MORE in tax savings than they put in for donations? permalink fedilink source parent hideshow 4 child comments replies: [–] evranch@lemmy.ca 17 points 2 years ago (1 child) For the most part people don't understand tax deductions and how they work, but this is true in the case of "donations in kind" of assets that are either overvalued or were going to be disposed of anyways. The ideal charitable donation disposes of something you were going to have to pay to get rid of, generates a tax deduction, and makes you look good at the same time. Perfect example is bogus environmental projects like building a reef out of old tires. It's win/win/win until everyone finds out that something in the tires actually kills fish permalink fedilink source parent hideshow 2 child comments replies: [–] Meowoem@sh.itjust.works 5 points 2 years ago Yeah they send old medicines to Africa too, some poor hospital on Kenya gets 100,000 expired doses of a medicine they don't even need if they could use it and then they have to pay to dispose of it while the company saves that fee and gets a tax write off permalink fedilink source parent [–] Primarily0617@kbin.social 6 points 2 years ago* no obviously not that's not how tax deductions work similarly to how i'm against corporations being able to donate to politicians, i'd be against corporations being able to donate in such a way that they could influence the school syllabus even if it literally cost them more than the recipient got permalink fedilink source parent [–] archiotterpup@lemmy.world 5 points 2 years ago (1 child) Where did it mention taxes? permalink fedilink source parent hideshow 2 child comments replies: [–] Vespair@lemm.ee 1 point 2 years ago Apparently the title is the one originally given by the artist permalink fedilink source parent
[–] Primarily0617@kbin.social 17 points 2 years ago (1 child) No but they "donate to their local community" to get tax deductions / write offs permalink fedilink source parent hideshow 2 child comments replies: [–] Kiosade@lemmy.ca 4 points 2 years ago (2 children) Let me ask you something: Do you think that when corps donate, they get MORE in tax savings than they put in for donations? permalink fedilink source parent hideshow 4 child comments replies: [–] evranch@lemmy.ca 17 points 2 years ago (1 child) For the most part people don't understand tax deductions and how they work, but this is true in the case of "donations in kind" of assets that are either overvalued or were going to be disposed of anyways. The ideal charitable donation disposes of something you were going to have to pay to get rid of, generates a tax deduction, and makes you look good at the same time. Perfect example is bogus environmental projects like building a reef out of old tires. It's win/win/win until everyone finds out that something in the tires actually kills fish permalink fedilink source parent hideshow 2 child comments replies: [–] Meowoem@sh.itjust.works 5 points 2 years ago Yeah they send old medicines to Africa too, some poor hospital on Kenya gets 100,000 expired doses of a medicine they don't even need if they could use it and then they have to pay to dispose of it while the company saves that fee and gets a tax write off permalink fedilink source parent [–] Primarily0617@kbin.social 6 points 2 years ago* no obviously not that's not how tax deductions work similarly to how i'm against corporations being able to donate to politicians, i'd be against corporations being able to donate in such a way that they could influence the school syllabus even if it literally cost them more than the recipient got permalink fedilink source parent
[–] Kiosade@lemmy.ca 4 points 2 years ago (2 children) Let me ask you something: Do you think that when corps donate, they get MORE in tax savings than they put in for donations? permalink fedilink source parent hideshow 4 child comments replies: [–] evranch@lemmy.ca 17 points 2 years ago (1 child) For the most part people don't understand tax deductions and how they work, but this is true in the case of "donations in kind" of assets that are either overvalued or were going to be disposed of anyways. The ideal charitable donation disposes of something you were going to have to pay to get rid of, generates a tax deduction, and makes you look good at the same time. Perfect example is bogus environmental projects like building a reef out of old tires. It's win/win/win until everyone finds out that something in the tires actually kills fish permalink fedilink source parent hideshow 2 child comments replies: [–] Meowoem@sh.itjust.works 5 points 2 years ago Yeah they send old medicines to Africa too, some poor hospital on Kenya gets 100,000 expired doses of a medicine they don't even need if they could use it and then they have to pay to dispose of it while the company saves that fee and gets a tax write off permalink fedilink source parent [–] Primarily0617@kbin.social 6 points 2 years ago* no obviously not that's not how tax deductions work similarly to how i'm against corporations being able to donate to politicians, i'd be against corporations being able to donate in such a way that they could influence the school syllabus even if it literally cost them more than the recipient got permalink fedilink source parent
[–] evranch@lemmy.ca 17 points 2 years ago (1 child) For the most part people don't understand tax deductions and how they work, but this is true in the case of "donations in kind" of assets that are either overvalued or were going to be disposed of anyways. The ideal charitable donation disposes of something you were going to have to pay to get rid of, generates a tax deduction, and makes you look good at the same time. Perfect example is bogus environmental projects like building a reef out of old tires. It's win/win/win until everyone finds out that something in the tires actually kills fish permalink fedilink source parent hideshow 2 child comments replies: [–] Meowoem@sh.itjust.works 5 points 2 years ago Yeah they send old medicines to Africa too, some poor hospital on Kenya gets 100,000 expired doses of a medicine they don't even need if they could use it and then they have to pay to dispose of it while the company saves that fee and gets a tax write off permalink fedilink source parent
[–] Meowoem@sh.itjust.works 5 points 2 years ago Yeah they send old medicines to Africa too, some poor hospital on Kenya gets 100,000 expired doses of a medicine they don't even need if they could use it and then they have to pay to dispose of it while the company saves that fee and gets a tax write off permalink fedilink source parent
[–] Primarily0617@kbin.social 6 points 2 years ago* no obviously not that's not how tax deductions work similarly to how i'm against corporations being able to donate to politicians, i'd be against corporations being able to donate in such a way that they could influence the school syllabus even if it literally cost them more than the recipient got permalink fedilink source parent
[–] archiotterpup@lemmy.world 5 points 2 years ago (1 child) Where did it mention taxes? permalink fedilink source parent hideshow 2 child comments replies: [–] Vespair@lemm.ee 1 point 2 years ago Apparently the title is the one originally given by the artist permalink fedilink source parent
[–] Vespair@lemm.ee 1 point 2 years ago Apparently the title is the one originally given by the artist permalink fedilink source parent
