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Razorguns
Well-known member
Always wondered..
Say you're owner of a company that produces media: (film, tv, music, what have ya).
Products which have monetary value -- but can easily be replicated and duplicated.
You have income. You have corresponding taxes.
Could you not find a charity that "donates" media to 3rd world countries and get a corresponding tax deduction?
eg: a charity that gives rights of your film to kids in brazil. Gives teenagers in nairobi access to listen to your band's hottest hits. And of course all these rights have easy figurable montary values.
Seems like too easy of a tax loophole. I spend $100,000 on a band - i make $300,000 profit -- i donate $80,000 in listening rights to kids in argentina through a us charity.
I wonder what the laws are on what US charities can and cannot do.
?
Say you're owner of a company that produces media: (film, tv, music, what have ya).
Products which have monetary value -- but can easily be replicated and duplicated.
You have income. You have corresponding taxes.
Could you not find a charity that "donates" media to 3rd world countries and get a corresponding tax deduction?
eg: a charity that gives rights of your film to kids in brazil. Gives teenagers in nairobi access to listen to your band's hottest hits. And of course all these rights have easy figurable montary values.
Seems like too easy of a tax loophole. I spend $100,000 on a band - i make $300,000 profit -- i donate $80,000 in listening rights to kids in argentina through a us charity.
I wonder what the laws are on what US charities can and cannot do.
?
