this post was submitted on 25 Nov 2023
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South Park
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Companies use those donations not in your name, but theirs and use it for tax's. Because you can write off charitable donations. So imagine how much they can write off.
No they don't. That's illegal and heavily audited by the government.
Corporate donation tax deduction
A corporation is entitled to a tax deduction for the donation amount against their income. By reducing taxable income, the corporation reduces their tax liability. A corporation does not need to claim the full donation in a particular year. Donations can be carried forward for up to five years. Generally, a corporation can claim a deduction for charitable donations up to 75% of the corporation’s net income for the year.