Kindness or a way to save on taxes? How charity works in the USA - ForumDaily
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Kindness or a way to save on taxes? How does charity work in the USA?

In pre-Christmas, New York, people are thinking not only about gifts and discounts, but also about helping their neighbors: Americans donate money, food, clothing, movable and immovable property in large quantities. Charity is something completely natural, more than a tradition - a way of life. Here are just donations in the US give tax breaks and benefits. Would you consider this charity as thrift? In the intricacies of the American tax system understand the publication Rtvi.

Фото: Depositphotos

Yanina Fleischer has her own jewelry store in New Jersey, Yanina & Co. More precisely, a design salon, she says proudly. How to give old stones a new cut, and most importantly, how to sell them, a girl from a poor Jewish family came up with forty years ago.

Parents brought her to America from Chisinau. To help the family, 14-year-old Yanina lied that she was already 16 years old, and got a job in a jewelery shop. After finishing school, she persuaded her father to take a loan for her precious risky startup.

Janina Fleischer, Head and Founder of Yanina & Co: “He gave me 25 thousand. That's how I started my business in 1987. - So it went? “Three months before Christmas I made 250 thousand.”

For three months before Christmas, Americans are more likely to part with money. They spend them not only on gifts for loved ones, but also on donations to complete strangers. Ioannina herself is engaged in charity work: for years, 20 has been helping Jewish orphans in Odessa. For them there in 1996, the organization Tikva, which in Hebrew means "hope," opened shelters and schools.

Photo: Facebook/Tikva Odessa Ukraine — Tikva Odessa — תקוה אודסה

Janina Fleischer, Head and Founder of Yanina & Co: “This girl came to us in 5 years. And she did not speak at all. She portrayed as if she was a wolf. Because they gave her vodka. According to Jewish law, what you give, you get back. And my decision is that children need help in life. Because when you help a child, this child brings a lot to the world. ”

Yanina is rather an exception to the general trend. According to the observation of the Tikva charity organization, wealthy Russian-speaking immigrants donate very reluctantly.

ЯNna Begelman, Director of Development of the Tikva Children's Home: “We, as Russian Jews, do not remember that they helped us. Nothing in return. We turned our backs. We prefer that which does not matter. Shoes Louboutin. Yachts. Penthouses Cars. For charity, absolutely nothing. ”

In 2017, Americans donated a record $ 410 billion, with 70% - almost 290 billion - given to individuals, and charitable foundations - only 67 billion. The largest increase in donations is in the arts, culture, and humanities — almost 9%. The smallest is in education.

Which of the wealthy and not very Americans do not want to feel like a real Santa Claus? Fortunately, the tax system of the United States is designed in such a way that any Santa volunteer must be compensated for the cost of reindeer team and not only. That is why it is around Christmas, when it is time to close the fiscal year and count your taxes, in America there is a real epidemic of such miracles.

Фото: Depositphotos

Anonymous benefactors in hypermarkets willingly pay the so-called Layaway: this is when you do not have money to pay for the goods you like, and you ask them to postpone. The benefactor is happy no less than you, because he receives a tax deduction.

Not only money is donated to charity, but also jewels, things, cars - they are sold at special auctions. Revenue may be much higher than the original price, respectively, higher tax deductions. Celebrities just sell their time, that is, the opportunity to stay with them.

Yanna Begelman, director of development of the Tikva orphanage: “We had a great charity evening. Sylvester Stallone auctioned off the opportunity for several people to come to the shooting of his film. One day at the shooting bought for $ 30 thousands. "

In this spiritless America they are cashing in even on charity, on poor orphan children, moral moral followers of spirit will exclaim. But the children in the Odessa shelter "Tikva" do not care who got what tax deductions. The maintenance of one child each year requires $ 10 thousand, and this is excluding medical expenses.

Janina Fleischer, Head and Founder of Yanina & Co: “We mainly export children to Israel for medical care, because medicine in Ukraine is terrible. We already had a case that the girl got sick. In Ukraine, they said that she has cancer and needs to do chemotherapy. It turned out that this is absolutely not the case. They would have simply ruined it. ”

As for tax deductions, they are not that big - for the middle class. Suppose a family of two who earns $ 100 thousand per year pays 20% taxes. But they are not charged on all 100 thousand dollars. Before Trump's tax reform, such a family was entitled to 12700 and 8100 dollar deductions. It could be more - with a mortgage and a host of other conditions. As a result, the tax - 15840 dollars. But if the family donated 10 thousand, the taxable base decreased exactly by the same 10 thousand. That is, not 79200, but 69200 dollars - thus, the tax is calculated on the amount that is 10 thousand dollars less. And it was necessary for the state to give two thousand less. Two, not ten. Eight thousand family budget still lost.

Фото: Depositphotos

What has Trump's tax reform changed? Since 1 this January, the tax deduction has increased, that is, the average American owes less to pay the state, but the compensation for charity has decreased, that is, in theory, the motivation has decreased.

For a family of two people who do not have a mortgage, taxes are no longer imposed on 12700, but on 24 thousands of one hundred thousand dollars. But donations are summed up not with the new rate, but with the old one. It turns out 22700 dollars. That is, the family and so fit into the 24 thousands of dollars in deduction. And there are no preferences, in fact, for charity.

Michael Koloden, Tax Advisor: “When we added another $ 12700 thousand to these sums, which are approximately equal to us - $ 10 -, we received less than $ 24 thousands, which are already given to them. That is, these $ 10 thousands have no effect on their tax situation. People do this not because they save money, but because the heart orders. Or because the neighbors do it. Or because it is so accepted in a civilized society - to take care of our weak, hungry and sick ”.

Therefore, tax adviser Michael Koloden is sure: Americans will not sacrifice less. Among his clients are those whose annual income is barely enough to live on, and every year they still give a tenth of their earnings to charity.

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