Businesses can’t claim your donations as their own for tax purposes. Even if they could… deductions come out of your taxable income, not the actual taxes you pay. If you gave $1 to mcdonald’s for charity, they would make $1 of income and then deduct $1, so there would be zero effect on the taxes they pay.
Not how it works!!
Businesses can’t claim your donations as their own for tax purposes. Even if they could… deductions come out of your taxable income, not the actual taxes you pay. If you gave $1 to mcdonald’s for charity, they would make $1 of income and then deduct $1, so there would be zero effect on the taxes they pay.
But the tax-free income generated from the donation can go back towards buying stock in McDonald’s or some other form of capital for corporate.
No, the tax-free income gets donated…