For the most part people don’t understand tax deductions and how they work, but this is true in the case of “donations in kind” of assets that are either overvalued or were going to be disposed of anyways.
The ideal charitable donation disposes of something you were going to have to pay to get rid of, generates a tax deduction, and makes you look good at the same time.
Perfect example is bogus environmental projects like building a reef out of old tires. It’s win/win/win until everyone finds out that something in the tires actually kills fish
For the most part people don’t understand tax deductions and how they work, but this is true in the case of “donations in kind” of assets that are either overvalued or were going to be disposed of anyways.
The ideal charitable donation disposes of something you were going to have to pay to get rid of, generates a tax deduction, and makes you look good at the same time.
Perfect example is bogus environmental projects like building a reef out of old tires. It’s win/win/win until everyone finds out that something in the tires actually kills fish