Probstein - Helping Humans - Net54baseball.com Forums

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12-02-2013, 07:29 AM

egbeachley egbeachley is offline

Eric Bea.chley

Join Date: May 2009

Posts: 920

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.

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.

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