Quote:
Originally Posted by jazz4cash
Too bad you can't make a purchase and donate it back to get a double deduction.
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Unless your last dollars are being taxed at greater than 50%, that's not going to work.
Say you are taxed at 30%. You donate an item worth $100. That's a $30 tax benefit. You buy it back for $100. Another $30 benefit. Net result: you own back the item you donated, you are $100 out of pocket with $60 of that coming back to you at tax time, for a net $40 loss plus your gas and time to go there.