View Single Post
Old 04-06-2009, 01:23 AM
NateR's Avatar
NateR NateR is offline
Join Date: Jan 2009
Posts: 5,742

Originally Posted by Tyburn
No...I thought it was a case of when he gives you a tax break...for whatever reason...that you give the money you would have given to him, if not for the a Charity.

I didnt realize he was giving you a tax break AFTER you give other monies to charity as a reward.

I've never heard of a Government that rewards its people for giving...I assumed you just gave what you saved when a tax cut came along
No, if you donate $100 a month to a charity (religious or secular), then that would add up to $1200 over the course of the year. Meaning that, when they add up your wages at the end of the year and determine how much tax you owe on those wages, they will subtract $1200 from the taxes that you owe. So, if you owed $3000 in taxes that year, then you would only owe $1800. Hence, a "tax deduction."
Reply With Quote