Welcome! Log In Create A New Profile

Re: Paying your taxes to the C&TS instead of the Feds . . .

Forum List Message List New Topic Print View

guymonmd

July 10, 2020 03:12PM

Registered: 14 years ago
Posts: 3,843

Great idea. Making a donation to the C&TS will reduce the amount of tax paid to the Feds and the state, because you can claim it as a deduction in your income.
However, if you make a $250 donation to them, your taxes will not be reduced by $250, but your taxable income will be reduced by $250, and the tax savings will by $250 times your tax rate
IF your tax rate for the feds is 8%, then your tax savings to the federal government would be $250 * 0.08 or $20.

I still support donating to the C&TS regardless of how much it actually may save you on your taxes.

Reply Quote

Message List Previous Message Next Message

RSS

Subject	Author	Posted
Paying (some of) your taxes to the C&TS, et al, instead of the Feds . . .	Russo Loco	July 10, 2020 11:52AM
Re: Paying your taxes to the C&TS instead of the Feds . . .	Chris Webster	July 10, 2020 01:13PM
Re: Paying your taxes to the C&TS instead of the Feds . . .	Scott Gibbs	July 10, 2020 02:38PM
Re: Paying your taxes to the C&TS, et al, instead of the Feds . . .	Russo Loco	August 03, 2020 01:59PM
Re: Paying your taxes to the C&TS instead of the Feds . . .	guymonmd	July 10, 2020 03:12PM
Re: Paying your taxes to the C&TS instead of the Feds . . .	drgwk37	July 10, 2020 03:21PM
Re: Paying your taxes to the C&TS instead of the Feds . . .	michael	July 11, 2020 08:24AM
Re: Paying your taxes to the C&TS instead of the Feds . . .	Eddy Sand	July 11, 2020 09:10AM
Re: Paying your taxes to the C&TS instead of the Feds . . .	rninrvr	July 11, 2020 10:23AM
Re: Paying your taxes to the C&TS instead of the Feds . . .	Russo Loco	July 11, 2020 12:27PM
Re: Paying your taxes to the C&TS instead of the Feds . . .	GeorgeGaskill	July 11, 2020 09:12PM
Re: Paying your taxes to the C&TS instead of the Feds . . .	Chris Webster	July 11, 2020 09:31PM

Sorry, only registered users may post in this forum.

Click here to login

488 stops for water at Los Pinos tank on closing day Oct. 1979. Photo courtesy Don Richter

The NGDF was started by Don Richter and is currently operated in his memory by Nathan Holmes and others. Others who have contributed to the upkeep of this board are (in no particular order): Charles McCandless, Everett Lueck, Ted Wilton, Cole Adams, James Bane, John Moellmer, Jon Bentz, Linn Moedinger, lloyd lehrer, Rod Jensen, John Craft, Steven Forney, Herb Kelsey, Bill Ramaley, Russ Sperry (El Russo Loco), Josh McNeal, John West, Jim Armstrong, Bob Bergstrom, Greg Scholl, Blake Forbes Doug van Veelen and Mark Fuller.