The Tax Shift

HungLikeJesus · 11-02-2008, 09:01 PM

Maybe I missed it above, but is the issue that he did not use his money to help someone less fortunate, or that he didn't take a charitable tax donation? When people I know are having money troubles I give them money, but it doesn't show up on any official records.

xoxoxoBruce · 11-02-2008, 09:41 PM

Exactly, it only becomes a tax deduction when there's a registered middleman taking a cut.

smoothmoniker · 11-02-2008, 10:51 PM

Quote:

Originally Posted by HungLikeJesus

Maybe I missed it above, but is the issue that he did not use his money to help someone less fortunate, or that he didn't take a charitable tax donation?

Then they would show up as gifts, and the recipients would pay a gift tax on them. If that's the case, the campaign would be quick to point it out, "Hey, he may have only taken a 1% tax deduction, but he gave away $25,000 in gifts to people who needed it".

This seems very unlikely.

xoxoxoBruce · 11-03-2008, 12:07 AM

Get real, if I give you money you're going to pay tax on it? Bullshit.

TheMercenary · 11-03-2008, 09:39 AM

Quote:

Originally Posted by xoxoxoBruce

Get real, if I give you money you're going to pay tax on it? Bullshit.

By law, that is what you are suppose to do but I don't think you actually have to claim it on amounts under 10k.

11-02-2008, 09:01 PM	#1
HungLikeJesus Only looks like a disaster tourist Join Date: Feb 2007 Location: above 7,000 feet Posts: 7,208	Maybe I missed it above, but is the issue that he did not use his money to help someone less fortunate, or that he didn't take a charitable tax donation? When people I know are having money troubles I give them money, but it doesn't show up on any official records. __________________ Keep Your Bodies Off My Lawn SteveDallas's Random Thread Picker.

11-02-2008, 09:41 PM	#2
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	Exactly, it only becomes a tax deduction when there's a registered middleman taking a cut. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

11-03-2008, 12:07 AM	#4
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	Get real, if I give you money you're going to pay tax on it? Bullshit. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

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