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-- avicii-to-donate-$1million-to-charity

avicii-to-donate-$1million-to-charity

I've never been a fan musically, but now, I'm a fan of the person. http://www.mixmag.net/words/news/avicii-to-donate-$1million-to-charity

nice tax write off that will help him out in 2013.

albert pujols is giving $100,000 each year for the next 10 years to the angels charity also (thats 1 million)

i'll gladly give 10 million a year to the angel charity if they sign me to a 10 year 120 million contract.

thought this was announced before his tour even started? house for hunger tour

quote:

Originally posted by drEamer thought this was announced before his tour even started? house for hunger tour

yep there were a few press releases about this a few weeks ago. Anyway nice to see what they are doing there

obligatory "should have spent that money on good music" post

It's purely a tax thing. He probably just didn't anticipate enough deductions, and rather the tax man get it, just gives it to charity for a brought forward tax deduction.

Same thing happened with Daft Punk - their accountant made a bit of a screw up following "music sounds better with you" and they ended up taking 20 friends to blow close to $1mil in a few weeks.

are you purely speculating?

quote:

Originally posted by DJ RANN It's purely a tax thing. He probably just didn't anticipate enough deductions, and rather the tax man get it, just gives it to charity for a brought forward tax deduction. Same thing happened with Daft Punk - their accountant made a bit of a screw up following "music sounds better with you" and they ended up taking 20 friends to blow close to $1mil in a few weeks.

that's a pretty cynical way to look at someone donating $1 million to charity

cut this guy a break. whether it's for one reason or another, i don't see any other DJs we follow doing something like this.

at least he's putting himself out there and putting his money where his mouth is. i respect that and would like the other big time DJs who are milking everyone to follow in similar footsteps.

quote:

Originally posted by diabloargentino cut this guy a break. whether it's for one reason or another, i don't see any other DJs we follow doing something like this. at least he's putting himself out there and putting his money where his mouth is. i respect that and would like the other big time DJs who are milking everyone to follow in similar footsteps.

there are a bunch, PVD is pretty famous for donating a ton. tiesto did the whole dance for life. never heard about armin doing anything, but i'm sure he has.

however, djs like afrojack, skrillex, deamau5? yea right

quote:

Originally posted by Cool1g that's a pretty cynical way to look at someone donating $1 million to charity

quote:

Originally posted by diabloargentino cut this guy a break.

Oi, pipe down - I didn't make any kind of judgement or even negative statement about him doing it. I just said how it probably came about, and if anything it's smart because it's better than spunking that money away on something useless or letting the IRS have it for nothing, especially when you A) get good press out of it, and B) get a tax deduction for next year from it.

quote:

Originally posted by DJ RANN Oi, pipe down - I didn't make any kind of judgement or even negative statement about him doing it. I just said how it probably came about, and if anything it's smart because it's better than spunking that money away on something useless or letting the IRS have it for nothing, especially when you A) get good press out of it, and B) get a tax deduction for next year from it.

actually, by saying it was only done for taxes, you were totally making a judgement about the reason behind it

quote:

Originally posted by Cool1g actually, by saying it was only done for taxes, you were totally making a judgement about the reason behind it

Lol, piss off

I just know a sugar coating when I see it

my comment wasn't towards anyone specific!

just saying, hey, he's doing something nice and it's cool to see that during a time when things are blowing up and DJs are running away with all our money (not that he isn't also, but at least he's willing to give back).

quote:

Originally posted by diabloargentino my comment wasn't towards anyone specific! just saying, hey, he's doing something nice and it's cool to see that during a time when things are blowing up and DJs are running away with all our money (not that he isn't also, but at least he's willing to give back).

Well, just to clarify, he's not actually giving anything back at all. He loses it either way, just by giving it charity, he get's it off next year's tax bill.

Just sayin'

quote:

Originally posted by DJ RANN Well, just to clarify, he's not actually giving anything back at all. He loses it either way, just by giving it charity, he get's it off next year's tax bill. Just sayin'

that's not true... it's a deduction, not a credit. without getting all tax-man on you, if he's paying US taxes, it would lead to a maximum of $350k in savings from a $1mil donation. Dunno how it works in Sweden and I'm sure it's all very complicated but long story short, he didn't need to do this. At the end of the day, hating on someone for donating money to charity is a bit absurd in my opinion.

quote:

Originally posted by msilin it's a deduction, not a credit. without getting all tax-man on you, if he's paying US taxes, it would lead to a maximum of $350k in savings from a $1mil donation. Dunno how it works in Sweden and I'm sure it's all very complicated but long story short, he didn't need to do this. At the end of the day, hating on someone for donating money to charity is a bit absurd in my opinion.

True....

.......if he were a US citizen or even permanent resident alien which I don't believe he is. Therefore, his earnings are probably subject to double territory taxation (i.e. both Sweden and the US). Trust me, that $1m is worth a lot more than $350k.

Also, it can be a credit if your accountant knows what he's doing and can bring forward losses from one year in to another.

I think the moral of the story is...

Donating to charity > giving the tax man money.

At least with charity, people are going to get use for it (unless its going to Haiti and then goes missing...but that's another tangent). We all know how good our government does with money...

quote:

Originally posted by Nerologic I think the moral of the story is... Donating to charity > giving the tax man money. At least with charity, people are going to get use for it (unless its going to Haiti and then goes missing...but that's another tangent). We all know how good our government does with money...

True that.

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