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Does Donating to Charity Save You Money On Taxes?

Influential Finance 27 views

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Life is expensive in Canada as it is and I have people coming to my door asking money for charities no thanks If the government really cared for people in need they would be helping all the people on the streets Hospitals, and the government makes so mu c money from our taxes way don’t they donate to charities I have to pay such high taxes and on top of that I have to be obligated to give money …… There is so much fraud going on as is
Comment from : @AmanSS890

Taxation is theft
Comment from : @ogcabbage6213

lol not if you donate to your own charitable organization or trust if you own it you killin it especially if you get a loan on the money you donated you just doubled your money AND saved on personal taxes
Comment from : @Millzlane

This doesn’t mention tax credit at all
Comment from : @wtfmynig

I always wonder this Thank you for explaining it with number example
Comment from : @Auggy913

Every member of the church of Jesus Christ Probably should itemize if ther tithing
Comment from : @gordonoutdoors8241

Say if someone did have 12k in charity donations how much would that person save?
Comment from : @BugRaiser

If you are wealthy, like really wealthy, donating becomes worth it Itemizing is the only way to go in that scenario
Comment from : @renegadephilosopher5996

Exactly what I was looking for Thank you!
Comment from : @F7VKQ

Well I want to keep my money so I can donate to the right cause But if they’re going to tax me anyway I miss well not donate at all
Comment from : @nicholasgrisham3421

This is what Nico tried to tell you about watches 😂
Comment from : @YRN230ll

Sabrías decirme aproximadamente cuánto porcentaje te quitan de esa compensación que recibes?
Comment from : @amymorales1406

Thanks for the explaination
Comment from : @nathlov1610

clearest explanation I ever heard loved your video, thank you
Comment from : @donvac1

Thank you for explaining
Comment from : @Mighty85

By far the best video I 've seen on this subject Thank you so much
Comment from : @juliocarvalho7361

Except advice
Comment from : @sunandevise9934

nyc
Comment from : @JamieCherry57

thank you for the clarification and addressing misconception So, it seems like from a tax point of view, you have no advantage to make charitable contribution In fact if you are doing standard deduction, you are making charitable contribution after the tax fron your own pocketthat's just a sad IRS policy
Comment from : @PP-oz2oj

this video helped a lot, thank you !
Comment from : @johnwolf7073

What about if we give merchandise 20k do we need appraiser
Comment from : @FatimaTahir-z3z

Very informative, thanks!
Comment from : @williekeys30324

Start a churchdonate all your income to church Register everything in to church Irs can't investigate church
Comment from : @aaronjaggars321

Your at 999 subscribers I'll be the 1000th 👍 Congratulations 🎉
Comment from : @Luvlyleelee

Wow I learned so much Great video!
Comment from : @emnul8583

Man I had been hearing this claim for years I looked up the tax tables today, did the math, and thought, you don't end up keeping more money by donating to lower yourself to the previous tax bracket Thank you for verifying
Comment from : @johnhildebrant8942

You are awesome man! Thank you
Comment from : @10percentDan

“Say you make $100,000”… bclick/b
Comment from : @brapcast

Absolutely informative! thank you!
Comment from : @HawkTron

New sub ❤
Comment from : @yourmobilecosmo

Thanks for explaining taxes for we layman :)
Comment from : @champdogpark

Or just put in 401k
Comment from : @MrDonny27

Watching in 2022! Thanks!
Comment from : @gailinax

what happens if own the charity you're donating to
Comment from : @blizzardpiecer7195

So clear and helpful
Comment from : @pinkorganichorse

Nice vid, there is a lot of misinformation on taxes
Comment from : @Troll_Juice

Thanks for the info Torey Lanez!
Comment from : @johnrodriguez5247

Great video sir
Comment from : @KasaBlanca007

U said u donate so do you exceed the 12k a year and do u itemize? brDo u have a ira do u think people who have Iras should they max out the 6k yearly if they can afford too?
Comment from : @playboysosexy1

Very helpful thank you!
Comment from : @maryrobby7134

Very detailed explanation! Thank you!!
Comment from : @adax509

If this guy is your CPA, run! He can't do math!
Comment from : @zachschaneberger

I donated clothes to Goodwill My receipt was $500 It's definitely worth looking into how charitable donations can offset your taxable income I have medical bills too
Comment from : @ConsuelaAllen923