- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: JJ Watt foundation can EAD just like the red cross
Posted on 9/3/17 at 10:07 am to SamGinn Cam
Posted on 9/3/17 at 10:07 am to SamGinn Cam
quote:
The specifics will likely be available via FOIA.
0
Posted on 9/3/17 at 10:09 am to dallastiger55
quote:There it is!!!
Youre a sucker if you think his foundation is 100% legit.
He's all about publicity
Posted on 9/3/17 at 10:10 am to BigPerm30
quote:
They can write off personal expenses on the foundation. Cars, dinners, trips, etc.
You can buts it's illegal unless you can prove its related to the charity
Personal expenses can not be written off
This post was edited on 9/3/17 at 10:11 am
Posted on 9/3/17 at 10:14 am to SamGinn Cam
quote:
Overhead costs, most every charity/nonprofit has them. You don't hit the donate button and then a random victim suddenly receives a bank wire transfer in their account. The specifics will likely be available via FOIA.
Overhead shouldn't ne 85% plus of total take.
Sorry. It just shouldn't. The board doesn't need a new Porsche every year.
Posted on 9/3/17 at 10:14 am to Weagle25
It's pretty clear who knows the rules and those that don't. Perm should stay out of tax arguments.
Posted on 9/3/17 at 10:21 am to heartbreakTiger
My favorite are the people who think writing stuff off is this magical thing where the company doesn't pay for stuff.
Posted on 9/3/17 at 10:26 am to CptBengal
quote:
Overhead shouldn't ne 85% plus of total take.
Well according to OP it's only 15%...
Posted on 9/3/17 at 10:27 am to Jcorye1
quote:
My favorite are the people who think writing stuff off is this magical thing where the company doesn't pay for stuff.
It's amazing how much shite people spew about taxes
Posted on 9/3/17 at 10:43 am to Jcorye1
quote:
My favorite are the people who think writing stuff off is this magical thing where the company doesn't pay for stuff.
Haven't seen anyone say that.
Most of the time these foundations are used for tax benefits, so basically they funnel money into the foundation, then buy cars, dinners, trips, etc. the athlete gets to write off the donation on his taxes and gets to buy all of the things listed above with reduced or no taxes.
There was a good article about this not long ago about these foundations setup by athletes/actors/etc.
Posted on 9/3/17 at 10:43 am to heartbreakTiger
I'm not saying it's legal. I'm saying that it happens. The majority of these foundations are tax shelters. If you think otherwise you're pretty damn gullible.
Posted on 9/3/17 at 10:47 am to The Pirate King
quote:
Haven't seen anyone say that. Most of the time these foundations are used for tax benefits, so basically they funnel money into the foundation, then buy cars, dinners, trips, etc. the athlete gets to write off the donation on his taxes and gets to buy all of the things listed above with reduced or no taxes. There was a good article about this not long ago about these foundations setup by athletes/actors/etc.
Completely agree. I love people that try to discredit other posters by acting like an authority and yet they have no fricking idea what they are talking about.
Posted on 9/3/17 at 10:56 am to BigPerm30
quote:
The majority of these foundations are tax shelters
They are all tax shelters. Tax shelters aren't illegal. Abusing them like you are saying is.
If you are saying that a majority are set up just because some accountant advised their wealthy client to funnel expenses into it then you are the gullible one.
Posted on 9/3/17 at 10:56 am to DoUrden
You are a freaking idiot. Go to the website. They don't charge anything. The 15% is an option to donate towards the overhead. You can change it to zero! Do your research people!!
Posted on 9/3/17 at 11:01 am to Weagle25
quote:
If you are saying that a majority are set up just because some accountant advised their wealthy client to funnel expenses into it then you are the gullible one.
That's exactly why you pay a good accountant.
Posted on 9/3/17 at 11:02 am to BigPerm30
quote:
That's exactly why you pay a good accountant.
No a good accountant finds legal ways for you to reduce your tax liability.
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News