How is it possible to give to charity “for the tax write offs”? I see that you don’t pay 30~40% tax on the amount you donated, but you no longer have 100% of the amount so surely you’re worse off.
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You give money to a charity and that charity uses it to *operate.* Depending on the size of the charity money is also spend on pay for employees, rent, utilities, etc…
Some companies also run charities under a seperate legal entity. (Not necessarily with bad intentions.)
If those companies give to their own charities, they ensure operational costs of the charity while simultaneaously reducing tax for the for profit company So it is a win-win situation.
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