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.