This is not official, but my charity/tax/enforcer expert said he's been asked about the Trump Foundation donation story and said this: 1/2
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That is confusing to me; however, there must be some method to his madness?
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I don't think it's much his actions that are as confusing as it is the article. People direct money to charity all the time
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payer gives $ to charity instead of trump = no taxes on income. Then charity can pay for "expenses" of charity.
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I understand the basic premise of a foundation; however, does the amount actually donated to charity count?
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Individuals can deduct but ltd based on agi (can carryover, tho) Corps cant get tax deduct for charity
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Thank you Z, to rephrase is there a minimum amount (%) that a foundation must donate to charity
End of conversation
New conversation -
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it's capped based on AGI b/c 1% shouldn't be encouraged to be generous on their own, let govt redistribute
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