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Forum Post: Dear Poor Person: The reason why I can't give you money

Posted 8 years ago on July 11, 2012, 11:25 a.m. EST by freewriterguy (882)
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Dear Poor Person, The reason why I can't give you money is the government will penalize me a whopping 15% gift tax. So I am swayed to give to 501c3 charities so I can get a tax write off. Unfortunately however if you research the form 990 for nearly every charity (except for one that I found) they all pay themselves 500-600k salaries and the hospital charities pay their doctors millions in "research" so again there just any money left on the table to help you. We did make it law that you can park your trailer in trailer parks for 600 dollars a month space rent. Sorry but that is the best we can do for you today.



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[-] 3 points by alterorabolish1 (569) 8 years ago

Please locate the soup kitchen near the trailer park so I can walk there.

[-] 2 points by HES (5) from New York, NY 8 years ago

Dear rich person:

Do not worry too much. Just fire you accountant, which gave you such a stupid advice. Chances are that they mislead you in other cases too, so you are loosing your money.

  1. Remember, that your gifts are excluded from the income tax. So if you do not make a gift, but will keep the money, they will be taxed at much higher income tax rate (being a rich, you are in high tax brackets, being not so rich, you cannot afford making gifts, which noticeably exceed allowance).
  2. If you are so generous that plan to make huge gifts, which substantially exceed the allowance, and hate the Government so much, that you do not want to give out even 15% of your gift, you may create your own 501c3 charity with non-paid staff, e.g. yourself, you wife, your kids, etc. Just get a one time good CPA consultation.
  3. If you want to do something good, like charity - do it. Do not listen propaganda, they fool you, trying to use you in their interests.

Best charities.

[-] 1 points by LetsGetReal (1420) from Grants, NM 8 years ago

Yep. Fire the accountant. You can give up to $13,000 per donee annually without any tax consequences. Any poor person would be thrilled to get $13,000.

This site is very helpful in evaluating charities and avoiding those that help the directors and personnel more than those in need: http://www.charitynavigator.org/

[-] 1 points by 71353933 (85) 8 years ago

If your a rich person and so inclined to help the poor you can give away up 5 million dollars I think through 2013 and claim one time lifetime gift exclusion

and you can give it away to anyone and multiples of people

[-] 1 points by brightonsage (4494) 8 years ago

Then there is the fact that you don't have any money. That could be a reason.

[-] 1 points by JadedCitizen (4277) 8 years ago

They own the space and charge me 600 dollars rent, you'd think they could at least mow their own tiny little lawn out of their own pocket book, but no, they make me pay that too, so it is really like paying 640 dollars a month. And yes, a kitchen soup close by would be nice.