EvilDonations
@charter.com
| reply to hopeflicker
Corporations usually can't write off Donations, actually
Corporations can not write off cash donations. The only thing a corporation can write off is donations of goods or services that they provide (i.e., a web design company could write off the cost of creating a web site for a non-profit) or the donation of goods that they actually used in business; for example, the donation of a truck to a non-profit.
Since the expense of these things can already be written off anyway (it's called depreciation, and sometimes just expensed), no -- a corporation is usually much worse off doing a donation than even you as an individual. That's why it's so important that we each individually do our part -- we, at least, can write off most donations to non-profits, whether NGO or faith-based.
And $1M is a lot of money. Think about how big of a deal that is to close such a big deal, regardless of how big the company is. That's a lot, even to a big company. That's a lot of cereal boxes, esp when you consider how tight-assed Walmart is, and how low their margins must be on each item.
On the other hand, if Walmart is giving away $1M in GOODS (as opposed to disaster relief cash), then they can write it off. That would make the most sense anyway -- most people need goods in the stricken area more than cash, since it's hard even to find stores that are open. And Walmart can write it off -- that's good. And keep in mind that when you write it off, you only get back the taxes you paid on it. That means Walmart might get 30% back on their total donation.
Even worse, even if Walmart is giving goods, who are they giving it to? You can't write it off unless you're giving it to a non-profit organization, because otherwise it's not tax deductible. If I give away hot dogs from my hot dog stand to people on the street, I can't write those off -- only if I donate them to the American Red Cross or something.
Anyway, I do agree -- business does what's best for business, usually. But people who run businesses DO have consciences, and (moreever) it's good for businesses to donate for at least two reasons: PR and to excite your community and employees that you are making a positive difference.
As Guy Kawasaki says, your business should create meaning. If you do that, your business will also generate revenue.
Disclaimer: I own a small business but am neither an accountant or lawyer, although I do study both as a hobby. And I do wish I could deduct more contributions and gifts. |
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fiberguy
My views are my own.
Premium
join:2005-05-20
1 edit | reply to KrK
Re: What is wrong with big companies???/
Upon reflection, I do not wish to post. |
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KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
 ·AT&T Yahoo
·AT&T DSL Service
 ·Cox HSI
| reply to fiberguy
Uh, wow. That's well off topic. My point being I'm so tired of hearing the lame arguments "If you don't like it, leave" or "Try moving to Cuba/China/Korea/Iran" etc
It's just a lame cop-out to any argument. "You got xxxx problem with xxxx here.... Then leave the country."
Imagine if the Government replied that way. "Oh you don't like the tax increase? Ok we'll kick you out of the country."
It's just a silly response.
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"Regulatory capitalism is when companies invest in lawyers, lobbyists, and politicians, instead of plant, people, and customer service." - former FCC Chairman William Kennard (A real FCC Chairman, unlike the current Corporate Spokesperson in the job!) |
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fiberguy
My views are my own.
Premium
join:2005-05-20
| reply to KrK
I happen to agree with bbt4. Everyone wants what other countries have and always point the finger to them saying "If they can have it, why can't we"... and then when people are told to move there and get it, responses like yours come.
Other countries have things at the cost of other luxuries that we enjoy. What SO MANY Americans don't see is the whole picture. I bet that 98% of all people that point to other countries as being the holy land of "the best" of the best have never stepped foot outside this country and see everything through rose color glasses.
Before people start bowing towards the orient because of fast broadband, step a few feet in those people's shoes and then come back and talk about it.
Think the people in the orient aren't ripped off? Sure, they have better cell service, broadband and technology, but I'll be damned if I'd want all that at the cost of being able to tell the world that I think George W. Bush is a scum bag and not be shot for it.
bbt4 was spot on with this statement... like it or not. People don't like the truth. Most, in America, always look at the good that others have and want it, but are FAR from willing to accept all that comes with it. Let's start there first.
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"Complaining is the least path of resistance for the self-serving, the lazy, and I’m told it’s a woman’s prerogative..." |
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Bluestealth
join:2003-08-18
Fairfax, VA | reply to jjeffeory
Re: BASS TURDS!!!
"Some" people, not most. |
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Youngjm
join:2002-04-01
Ada, MI
·Comcast
| reply to hopeflicker
said by hopeflicker  :said by fiberguy :Yea... Corporations only want your money. Didn't Wal-Mart just give 250K to aid in disaster relief? wait.. no.. they didn't.. because they just upped it to 1 million. Another business, I heard, gave 2 million. AT&T and other companies are providing free calling service and WiFi in affected areas to help people stay connected. That's just a start.. but I can certainly see how corporations main function in life is to rip people off. Money, aid, and physical support is coming in strong from those greedy corporations all over the place from around the country... Please.. engage the brain before you say such silly things. It's more of an advantage to corps to offer donations and what not. Can you say BIG tax write offs? It's so true. BIG corps only want whats in your wallet. It is truly amazing how many people hate big corporations but if it was not for them, how many of us would have jobs and the things that we like to use? |
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panda
Visualize Whirled Peas
join:2000-01-08
Danvers, MA
| reply to hopeflicker
Re: What is wrong with big companies???/
said by hopeflicker :Misleading ads, false advertisements, monopolies, bait and switch, illegal business practices, B.S. TOS/EULA's that is written to where the common folk can not understand, overpriced, piss poor service, shareholder comes before the customer, and the FINE PRINT. ALL to get YOUR $$$$ It's all shady and it's all BULLSHIT! It seems to me that the answer should be obvious. Be neither "common poor folk" nor a "customer"...
Be a SHAREHOLDER and make it work inf your favor! Then, get elected to the BOD, and get more options, etc.
I feel so...
...empowered!
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"[He] couldn't get a clue if he stripped naked, rubbed himself with clue musk, went to the middle of the clue breeding grounds at the height of clue breeding season when it was full of horny clues and did the clue mating dance for days." |
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KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK
·AT&T Yahoo
·AT&T DSL Service
·Cox HSI
| reply to kommander
said by kommander :Move to China. I'm sure that the goverment ran every thing will be to your liking. There are no pesky greedy companies over there. I so tire of this type of tripe.
Tell ya what, be a good little slave-sumer and pay the bills for the rest of us. Maybe then you'd care about being ripped off.
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"Regulatory capitalism is when companies invest in lawyers, lobbyists, and politicians, instead of plant, people, and customer service." - former FCC Chairman William Kennard (A real FCC Chairman, unlike the current Corporate Spokesperson in the job!) |
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Thaler
Premium
join:2004-02-02
Encino, CA
| reply to hopeflicker
said by hopeflicker :so you enjoy all of these? Misleading ads, false advertisements, monopolies, bait and switch, illegal business practices, B.S. TOS/EULA's that is written to where the common folk can not understand, overpriced, piss poor service, shareholder comes before the customer, and the FINE PRINT. I highly doubt anyone enjoys any of that. However, seeing as how I'm lacking the startup capital to maintain my own ISP, I'm in no position to show them what's what. If they break the law, that's up for the court system to decide. However, if AT&T has wronged anyone specifically so wrongly in their business practices, then one would hope they'd drop their services.
Even if AT&T is in a monopolistic power position, they are still peddling luxuries with their broadband provisions. Consumers still have the right to vote with their wallet, and sever the non-essential services with a company that has done them so wrong. And yes, as damn near integrated & handy the internet has been in today's modern life, nobody's going to drop dead directly as a result from stepping off broadband. |
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hopeflicker
Capitalism breeds greed
Premium
join:2003-04-03
Long Beach, CA
| reply to kommander
said by kommander :Said by hope flicker: What is wrong with big companies???/ Misleading ads, false advertisements, monopolies, bait and switch, illegal business practices, B.S. TOS/EULA's that is written to where the common folk can not understand, overpriced, piss poor service, shareholder comes before the customer, and the FINE PRINT. ALL to get YOUR $$$$ It's all shady and it's all BULLSHIT! Move to China. I'm sure that the goverment ran every thing will be to your liking. There are no pesky greedy companies over there. so you enjoy all of these?
Misleading ads, false advertisements, monopolies, bait and switch, illegal business practices, B.S. TOS/EULA's that is written to where the common folk can not understand, overpriced, piss poor service, shareholder comes before the customer, and the FINE PRINT.
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People pray to God because they're told to. |
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kommander
join:2003-11-03
Yakima, WA
| reply to hopeflicker
Said by hope flicker:
What is wrong with big companies???/
Misleading ads, false advertisements, monopolies, bait and switch, illegal business practices, B.S. TOS/EULA's that is written to where the common folk can not understand, overpriced, piss poor service, shareholder comes before the customer, and the FINE PRINT.
ALL to get YOUR $$$$
It's all shady and it's all BULLSHIT!
Move to China. I'm sure that the goverment ran every thing will be to your liking. There are no pesky greedy companies over there. |
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hopeflicker
Capitalism breeds greed
Premium
join:2003-04-03
Long Beach, CA
1 edit | reply to jinjimbob
Misleading ads, false advertisements, monopolies, bait and switch, illegal business practices, B.S. TOS/EULA's that is written to where the common folk can not understand, overpriced, piss poor service, shareholder comes before the customer, and the FINE PRINT.
ALL to get YOUR $$$$
It's all shady and it's all BULLSHIT!
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People pray to God because they're told to. |
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jinjimbob
Troy Mcclure
join:2001-11-13 | reply to hopeflicker
Re: BASS TURDS!!!
yep, its also cheap advertising. |
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jjeffeory
join:2002-12-04
USA | reply to supernac
Well, some people also go above and beyond making money. They want to help others and feel satisfaction in what they do. |
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Thaler
Premium
join:2004-02-02
Encino, CA
| reply to hopeflicker
said by hopeflicker :It's more of an advantage to corps to offer donations and what not. Can you say BIG tax write offs? Ummm...trust me. They would've made a whole lot more money in just keeping their donations, rather than give them away. You bet your ass they're included in tax write offs. Don't we all try and account for the $5, $10 or whatever we donate to charities as well come tax time? Their donation is no different than the ones citizens make.
said by hopeflicker :It's so true. BIG corps only want whats in your wallet. What else are they supposed to want? If a company wanted anything more from me than what's in my wallet, I'd feel like I had a stalker or something. |
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fiberguy
My views are my own.
Premium
join:2005-05-20
| reply to hopeflicker
1st, it's not "more of an advantage"...
2nd, do you know how the tax code works and why donations are able to be written off? Theoretically, money needs to flow from the private to the government and some goes back to the private sector. You may funnel money direct to charitable causes yourself instead of the government doing it. So, what's wrong with that?
3rd, very good! Yes.. corporations DO want whats in your wallet... and...? What's your point? That's what business is all about.. supply and demand... they have something you want - you trade with them.. money for product and/or service.
Paranoid people also look at Christmas gifts and think "I wonder what they want from me"... sad, really.
Let me give you something to think about... a charitable donation is going to get into the hands of those in need FAR faster than the government... so please, tell me what's wrong with a donation - even if a tax break is in play.
This is ridiculous.
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"Complaining is the least path of resistance for the self-serving, the lazy, and I’m told it’s a woman’s prerogative..." |
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en102
Canadian, eh?
join:2001-01-26
Valencia, CA | reply to hopeflicker
Good PR will help, as will donations.
If AT&T didn't help getting these customers their service back... then they wouldn't be getting revenue from them.
Tax deductions are always good as well.
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Canada = Hollywood North |
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