Do you volunteer/donate?

[Mr. Pedantic]

I'm deciding whether or not to donate blood. If I do it'll be after all my tests finished, when I actually have some free time again.

Donate to a bunch of charities because people at work are addicted to causes. I also donate iPods.

When's one swinging my way? I just had an iPod break on me...

 

[preCRT]

I donate to local food pantries

 

[Zebo]

Just with kids, coach baseball and wrestling now my sons are doing it. Back in my teens I did volunteer at animal shelter and a very short stint at local hosp as an undergrad.

 

[TridenT]

I don't donate or volunteer for anything. Not really worth it. (social reform through legislation actually gets you somewhere)

 

[alkemyst]

For those who donate...Do you take that donation as a taxable deduction?

Most I am sure cannot. Are you arguing that they aren't really donating though? That is usually the basis of this.

Also it's not a dollar to dollar write off. It's an income reduction if anything.

 

[alkemyst]

I don't donate or volunteer for anything. Not really worth it. (social reform through legislation actually gets you somewhere)

worth it to you maybe. To the group you are helping it's big. Many long lasting charities are folding up now due to the economy.

We had a cat sanctuary out west of here...something like 1200 cats guaranteed medical treatment and a place to live until they died. People whose cats had leukemia and feline AIDS or were blind and/or deaf.

www.10thlife.org. They tried to help that kitten that made national news "Chipper" that was put through a wood chipper.

Most of their funds came from Palm Beachers. Many Palm Beachers were royally screwed by Madoff.

They had to close shop a few months ago. The owner tried to find new homes for as many as he could. Most did not ever get a place to go. He stood by his word though and handling each and every euthanasia personally instead of shipping the animals off to be gassed.

 

[KeithTalent]

For those who donate...Do you take that donation as a taxable deduction?

Well for the dollars I donate of course I do, I don't see why you wouldn't. It's not the reason I donate, but it's an added bonus; I wouldn't stop donating if the tax benefit was removed.

Heck, I'm an accountant, I think they would take away myudesignation if I didn't take the deduction.

KT

 

[DaveSimmons]

For those who donate...Do you take that donation as a taxable deduction?

Why would that matter?

Even if your last bit of income is in the 32% tax bracket, you still "lose" 68 cents on every dollar that you donate. If you donate $100 you only get $32 back in lowered taxes.

In my case I rent instead of paying a mortgage, so itemizing hasn't made sense for me yet and I get $0 back.

 

[meltdown75]

i donate as much as i can to stuff around the office...

i don't volunteer but i probably should as i have the most free time of anyone i know.

 

[highland145]

For those who donate...Do you take that donation as a taxable deduction?

I took the "not financially compensated for" to mean a tax break. Yes, the $$ I donate, I deduct.

 

[TridenT]

A tax break is a financial compensation.

Anyone who uses deductions on the things they donate is not really donating in the truest sense. >.>

 

[IronWing]

I bill my time here and then write it off as a business donation - casting pearls before wayward youth.

 

[monk3y]

Wife and I donate around 5% to charities of our choice.

 

[alkemyst]

A tax break is a financial compensation.

Anyone who uses deductions on the things they donate is not really donating in the truest sense. >.>

Dude, you are fucking clueless. This is the way it works. First you have had to pay a fuckload of taxes so you can itemize...

Next you get to reduce your income by some or all of the donation. Most of the time the tax bracket here is going to be 28%+...

Those you donate too realize a 100% advantage from it.

I don't write off every donation I make as I don't keep track of every $5 and $10 donation I make, but my large ones I do.

 

[dardarla]

I've donated blood, and plan to again in a few weeks, it's a near painless experience that saves lives.

I usually only volunteer for things if it is something I am passionate about. I volunteered for a group collecting signatures for a petition on a local issue, which will force a plebiscite. I dedicated a lot of time and energy to the cause because the issue was close to my heart and would affect my family negatively career wise. I also volunteer at an annual memorial golf tournament because it is for my friend and for a Charity related to him/his interests.

A lot my friends volunteer with each other to build their resume and socialize while supporting a cause. If I went to the same university as them I expect I would be doing events like this as well. I also volunteered in a club in high school.

As far as donating I always pledge friends if they are doing a walk/bike/run for a cause or disorder, but that's about it.

 

[DaveSimmons]

A tax break is a financial compensation.

Anyone who uses deductions on the things they donate is not really donating in the truest sense. >.>

Again, this is not true. You never come out ahead on donating unless it's some tax shelter scam that is probably illegal, or if you lie about the value of clothes, etc. donated to Goodwill (also illegal).

Say you have $1,000 in the bank and pay 28 percent in taxes on your last bit of income (your highest bracket).

You go crazy and give $500 to Child's Play. You have $500 in the bank. Pretend you get your tax savings back instantly, = +$140.

You now have $640 in the bank not $1,000. Certainly not more than $1,000.

(That's all assuming that you can itemize enough to beat the standard deduction, which rules out almost everyone who isn't paying a mortgage.)

 

[TridenT]

Again, this is not true. You never come out ahead on donating unless it's some tax shelter scam that is probably illegal, or if you lie about the value of clothes, etc. donated to Goodwill (also illegal).

Say you have $1,000 in the bank and pay 28 percent in taxes on your last bit of income (your highest bracket).

You go crazy and give $500 to Child's Play. You have $500 in the bank. Pretend you get your tax savings back instantly, = +$140.

You now have $640 in the bank not $1,000. Certainly not more than $1,000.

(That's all assuming that you can itemize enough to beat the standard deduction, which rules out almost everyone who isn't paying a mortgage.)

It's not true donating though.

All things else equal from someone else who is not donating, you give an amount to whatever charity. That is donating...

 

[foghorn67]

Volunteer.

 

[alkemyst]

It's not true donating though.

All things else equal from someone else who is not donating, you give an amount to whatever charity. That is donating...

Dude he was using an example.

Try it this way, you make $75000 this year and give about $5000 to various charities. At the end of the day not counting any other deductions you pay $21k in taxes vs $19.6k. A $1400 difference for someone else getting a $5000 gain.

With interest rates so low now most aren't getting back anything at the end of the year, as a result along with the high rollers getting burned via Madoff and crew...many charities are suffering.

 

[IndyColtsFan]

Yes, I've donated a bunch of stuff to Goodwill and other charities like that the past few years, and our company supports various kid's charities around Christmas and I try to donate to that though last year, I missed the deadline. Monetarily, I'll donate to the Red Cross on occasion as well.

I don't really volunteer, though.

 

[KMFJD]

i donate as much as i can to stuff around the office...

i don't volunteer but i probably should as i have the most free time of anyone i know.

We have a whole sub-class of workers here that donate a lot of company time so they don't have to work.....

 

[OILFIELDTRASH]

No and no. I'm usually too worried about myself to concern myself with anyone elses problems. No one ever helped me.

 

[adairusmc]

No and no. I'm usually too worried about myself to concern myself with anyone elses problems. No one ever helped me.

This

 

[aldamon]

I volunteer 4 hours a week at the Kramden Institute in Durham. I help refurbish computers that are given to underprivileged kids. Anyone else in the Triangle, NC area should check it out if they're interested.

 

[Golgatha]

For those who donate...Do you take that donation as a taxable deduction?

Absolutely. Why wouldn't you? The government is the last place I would think to "donate" money to.