memes

I really hate it when I pay with plastic and they hand me a smaller piece of plastic back as change.

This is wrong, and it's wrong for obvious fucking reasons. Like Accounting 101 reasons. Like, go to prison for fraud reasons.

Let's say you own a business. You make sales and you partnered with a nonprofit for donations. You ask your customers to donate to that charity.

When you take that money, you set it aside. It does not belong to your company, specifically because you wouldn't want to inflate your profits or offset your losses with money you don't have. If your company loses money and you took this money, then you wouldn't even be able to write off the full amount you took because you wouldn't have any taxable income.

So, since this money isn't yours, when you donate it, you do not write it off your company's profits. Because it didn't come from the company's money because you don't want that to touch your profits. If you do write that off, that's a little something financial experts like to call fraud.

But, let's pretend you did take it, and counted it in your profits because you like to be stupid and risky. When you donate that money, you are writing off the portion of your profits that would have been added. So, even if you did donate that money yourself to write-off, you already took it as profits.

This isn't even a US thing. This shit wouldn't be legal anywhere. If it was legal, then they could donation roulette to continuously donate the same dollar over and over to write off all of their taxable income, and, honestly, it would be easier to just buy art. Art is the real fucking tax scam.

This is not true. Customers can claim their point-of-sale donations on their taxes, but the business that collects the donation can not.

https://taxpolicycenter.org/taxvox/who-gets-tax-benefit-those-checkout-donations-0

Edit: My link is for USA, but my understanding is that the principle holds in most places.

Wait fuck, those donations actually go to the company tax relief?! I would be 😠 if I wasn't so 🫩

Please donate to our corporate approved charity you've done zero research about to see if they're even a legitimate charity doing something you actually want to support right now at point of sale impulsively!

This is provably false, please stop spreading this lie.

Once again people in your comments are like America is the only country in the world. 🙄

Write-offs aren't magic. There's no way to write off a donation in a way that will reduce your tax burden to lower than it would have been without the donation.

If you donate $100 to charity and write it off, it reduces your income by $100. If you pay 30% in taxes, it reduces your tax burden by 30 bucks, so you're still losing $70 versus not mak8ng the donation.

The difference with these round-up measures is that the donation is only given if the customer pays for it, so it breaks even after the cost of implementation/overhead of the system.

Except they don't. You give them $1, they write off that exact $1, they get no tax benefit.

What this really gives them is good will. They can say they donated 10 million to charity that year and everyone glazes them for it.

Edit: also yes, they might be donated to really shitty charities.

Except the rondald McDonald's house. That's a seperate foundation and is really beneficial.

If you don't know they supply housing to families near major hospitals if the family needs to travel far for specialty care.