Do celebrities donate money to charaties for tax reasons? If so, how is it possible?

Answer 1

They just write a check, like everyone else.

As far as being able to deduct the donation, keep in mind that not all revenues they generate flow through their personal return. Most celebs have corporations set up to handle the income, and they receive individually a wage, bonus, dividend, etc. which flows through to their personal return. Since their personal return will be below the income limitation for the deduction, they can deduct the donation.

Hope that helps!

Answer 2

A lot of people donate money to charities. Tax reasons I am sure play a role for all. However one has to remember that the deduction was limited to the tax bracket they are in. Usually most people give because they can. Celebrities can as they have lots of money and it makes them feel good, among other reasons.

Answer 3

The answer to your question is yes we all do just not the same amount of a write off. Most celebrities are republicans they are for them self not the people. Therefore when they donate a good lump sum of money to charities they can claim that money as a tax write off it helps them not to have to pay a bigger lump sum in taxes to the government.

Answer 4

Celebrities are pretty much like everyone else -- they donate money to charity if they feel like it, and usually it's because the charity has something to do with them personally (for example, Sheryl Crow has reportedly donated a few million to breast cancer research, and she found out she had breast cancer a few months ago). Of course, just about everyone who donates to charity takes full advantage of the tax write-off. It only benefits people who itemize all their deductions though, and if you own a house you're better off itemizing all your deductions anyway. Not terribly difficult to do, but you're better off having someone do your taxes if you itemize because they'll make sure that you claim EVERYTHING that you can write off.

Answer 5

Are you a cynic or just a realist? How do you know celebrities donate money to charities?

Answer 6

including funds with the aid of itself does no longer something to an "economic gadget" yet in all threat harm it. the U. S. economic gadget is an unfathomably complicated gadget which had the potential to self-adjust as long as government does not placed pointless regulations on it in this sort of taxes or rules, and the companies in the economic gadget do no longer cheat one yet another. The economic gadget does not want extra funds... I repeat... THE economic gadget does not want extra funds. in certainty, it probable needs much less. it variety of feels counter-intuitive, yet have confidence me. the government could make funds each and every time it needs, so if having a ton of extra funds have been great for the economic gadget, then we would do it continually. the actuality of the subject is that as quickly as you print funds and supply it to human beings, the money they already had is properly worth much less through fact now there is extra funds in gadget, extra furnish. funds works the comparable way the different commodity works. If all of us have a ton of gold, then gold will no longer be properly worth that plenty. this is the comparable way with funds yet with funds this is extra problematic to calculate through fact this is not any longer subsidized with the aid of something (fiat funds) and we've the potential to make as much as we want each and every time we want. i do no longer opt to get right into a extensive communicate on how the economic gadget works, yet i'm going to end this with the aid of say that the U. S. government is "donating" funds to the economic gadget in this sort of stimulus funds; in spite of the shown fact that this is hopeless. in the event that they did no longer tax us as plenty, and spend the money on issues we don't desire or want, then they does no longer could supply us the a refund and phone it a "stimulus equipment." you would be unable to "donate" funds to the economic gadget. The economic gadget is each and every thing that is composed of money. long tale short: government is basically too huge and that they do no longer understand what they're doing. they're corrupt and redundant at ultimate. They deceive us continually through fact maximum anybody is too stupid to study up on what they're talking approximately. No quantity of money is going to help this economic gadget. It has to do with this united states of america's self assurance in itself -- in its government.

Answer 7

probably some, but we cant judge their hearts when they give. There are some that give. (i.e. Stephen Speilburg, i dont really know how to spell his name, but he's the only one i can think of at the moment.)

Answer 8

heheheheh
do they really do this
damn,,!!!! i thought they do it from thier heart