tax-deductible charity

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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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Anonymous 0 Comments

The intent is you gave the money that you would have given the government in taxes to the charity instead. It’s not about making money, it’s about redistributing it. Basically, the government is saying “Since you were a good person gave X amount to your chosen charity, we’ll subtract that from what you owe us” *In very simple ELI5 terms. The actual law on how you get credit for charitable giving is a bit more complicated*

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