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 are correct. The only way the scam works is if you control the charity you are donating to. Then, even since you’ve given the money away, it’s still “yours”.
So you start a charity and get your kids/wife/cousin to run it. Then you can give the charity money tax free. And the charity buys a boat to take sick kids sailing, but mostly you just use the boat yourself.
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