You're rich, now what?

John Hasbrouck · 03-26-2005, 01:27 AM

The rich give to charity and get it back when taxes are filed. So it is a tax shelter for them.

Sheriff Gonna Getcha · 03-26-2005, 03:14 AM

Quote:

Originally Posted by John Hasbrouck

The rich give to charity and get it back when taxes are filed. So it is a tax shelter for them.

In point of fact, that's not entirely true. Tax deductions for contributions aren't even close to 100%; they only get back (by virtue of the tax deducation) a portion of the money they give.

Plus, not to be incredibly obonoxious, but a tax shelter is a place where you can put money to avoid taxation. It doesn't shelter money to give it away - even if you get a portion of it back.

03-26-2005, 01:27 AM	#1
John Hasbrouck Special Teams Join Date: Mar 2005 Posts: 180	Re: You're rich, now what? The rich give to charity and get it back when taxes are filed. So it is a tax shelter for them.

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You're rich, now what?

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