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RE: @SchoolForSDG4 has received 4992.15 AFIT on @Actifit. More helps are coming from other dapps and projects

in #actifit5 years ago

Hooray! I'm glad to see you guys getting more support. It's such a worthy cause! <3
The tax benefits really only help very rich people who donate very large amounts, at least, in the US, that's how it works. Even years where I had donated hundreds of dollars to various things, it didn't matter because it was still better with as little money as I had to do the "basic deduction" (which is, a flat amount that everyone is entitled to subtract from their income amount, so like, if you earn $15,000/year and your basic deduction is $5000, you are only taxed on $10,000); the charity tax break only happens if you itemize your deductions (so you have a long list of monies you get to subtract instead of the flat amount). Tl;dr it only matters if you donate thousands of dollars every year. ;)

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I am glad how @msp-foundation came forward to help and other projects too. Thanks for the more clear idea about tax benefits.

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