You will spend less money just paying taxes than donating money are writing off your top end. For instance if I have $100 and the government wants 40% of it then I could give them $40. Or I could donate, lets say $15 and now I owe 40% on $85 which is $34. Add the $15 I donated and it's $49.
Plus there are limits on how much you can deduct and it's less for assets than for cash. Lastly we have a thing called Alternitive Minimum Tax what is a catchall for anyone that thinks they can pay less by adjusting their income down. You need to calculate both taxes and you pay the higher one.
Plus there are limits on how much you can deduct and it's less for assets than for cash. Lastly we have a thing called Alternitive Minimum Tax what is a catchall for anyone that thinks they can pay less by adjusting their income down. You need to calculate both taxes and you pay the higher one.