[openbeos] Re: Non Profit Tax Deductions
- From: "Bruno van Dooren" <bruno_van_dooren@xxxxxxxxxxx>
- To: <openbeos@xxxxxxxxxxxxx>
- Date: Thu, 15 Jul 2004 20:01:49 +0200
i assume that this is a US only perk, or does this sort of thing work
international?
kind regards,
Bruno.
----- Original Message -----
From: "Czeslaw Czapla" <czapla@xxxxxxxxxxxx>
To: <openbeos@xxxxxxxxxxxxx>
Sent: Thursday, July 15, 2004 8:12 AM
Subject: [openbeos] Re: Non Profit Tax Deductions
> on 07.14.04 4:41 pm, Mat Hounsell at mat_geek@xxxxxxxxxxxx wrote:
>
> > I was involoved with a non-profit US based organisation. I was told that
in
> > the
> > US money spent by members on the organisation/work was tax deductible.
Is that
> > true for Haiku?
>
> Absolutely, there are significant tax benefits enjoyed by 501(c)3
> corporations such as Haiku Inc. Most (if not all) contributions made to
the
> organization are deductible from the taxable income of the contributor.
>
> Depending on the amount that you contribute annually to such
organizations,
> the reduction in one's tax bill can be substantial. The US has a graduated
> income tax structure, so sometimes deductions from taxable income can
reduce
> your annual taxable income so much that you end up in a different "tax
> bracket", i.e., a different graduated level in the structure in which the
> income tax levied is a smaller percentage of your (reduced) income. This
is
> a double gain that I've enjoyed at least once in the past.
>
> Czeslaw
>
>
>
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