Quote:
Originally Posted by bnorth
I do not know how Rick does his charity "work" but as a business owner I know he can deduct all the money everyone else is donating through these auctions on HIS taxes.
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As well he should. If the auction makes $1,000 and he sends it to a charity, he should not have to pay $300 in taxes (I'm assuming 30% to make it easy). He can deduct the $1,000 given to offset the $1,000 earned to make everything $0 for this transaction.