WAYYYY OT :( On Saturday, December 3, 2016 5:34:56 PM EST Rich Freeman wrote: > On Sat, Dec 3, 2016 at 5:09 PM, William L. Thomson Jr. > > Actually, it is the opposite. When you spend money as an individual > in the US it normally doesn't lower your taxes unless there is some > special tax deduction for it, such as the mortgage interest deduction. > One of those deductions is donations to 501c3/etc status. So, there > is a benefit to an individual when donating to a 501c3 organization > (or other deductible classes) because it lowers their tax burden.
Gentoo has no official status with the IRS, 501c6, or 501c3, etc. Any write off would have to be categorized otherwise. > So, money given to Gentoo by a private business is the same as money > spent on toilet paper or money thrown in the furnace as far as tax > liability goes. It increases expenses which means it decreases > profits. It depends on how a business or anyone wants to categorize. You can only deduct so much in any category. -- William L. Thomson Jr.
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