What’s the deal behind all the chain retail stores soliciting for some charity?
In: 3
What’s basically happening is *you* aren’t donating to charity. *You* are voluntarily paying extra for your purchase. The store takes this “bonus profit” and donates it to a charity and receives a tax credit for doing so. The company in turn receives positive PR for being “charitable” and also reduces their tax bill.
If *you* are donating to a charity you’ll get a record back that you can use to claim a deduction on your taxes, if you don’t receive the record you aren’t donating to charity, you are voluntarily paying more money than you need to.
BUT OP – you should check your receipt, I’ve been surprised to see a few retailers actually put the tax record on your receipt so you can claim the benefit, which is a good thing! I think my local big-box pet-store does this if you donate to their local shelter.
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