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Comment on "Yeah, but what if we used AI?"

oce@jlai.lu ⁨6⁩ ⁨months⁩ ago

They get a huge tax write-off but they are still giving up at least the same money aren’t they? The issue is rather that these foundations may benefit them in another way, for example by providing a salary to their family and friends, if I understand that correctly.

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InfiniteStruggle@sh.itjust.works ⁨6⁩ ⁨months⁩ ago
Exactly. A portion of the money is funnelled back to them. Social events for networking become tax write offs when they add a “Help the kids” box out front.

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UpperBroccoli@lemmy.blahaj.zone ⁨6⁩ ⁨months⁩ ago
Not necessarily. There are a lot of scams involving charity. Here’s a small, ad-hoc made-up example to illustrate:

Buy cheap artwork from obscure artist for $500

Wait a while

Buy an expert expertise that says your art is super revolutionary and worth $5.000.000

Donate that super important piece of art to some charity or museum or whatever

Write off $5.000.000 in taxes
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- oce@jlai.lu ⁨6⁩ ⁨months⁩ ago
  Is it really possible to write off based on estimated art value rather than initial price?
  
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