I’m an American sick of being taxed by the dysfunctional US federal government and am looking for ways to reduce the amount paid as well as increase my contribution to society. I’m not looking to reduce state taxes.

How can I find out the amount I can donate to charities each year such that it reduces my federal taxes as much as possible for my income level?

  • BombOmOmEnglish
    11•2 days ago

    One scummy way would be to have an artist friend paint you something. If you can get that painting appraised at a crazy high value and donate it to a valid charity, you can deduct it at the appraised value (I think, anyway.)

    I would highly recommend against attempting tax fraud. The IRS does not appreciate it.

    • @yesman
      9•2 days ago

      what Ad Patrick is describing is not tax fraud. It’s called fine art. And there are industries that support this scheme including duty-free storage at international airports so you don’t have to pay duties on your tax shelter. Many works of art never leave these warehouses, never viewed by anyone, even the owner. They simply exist to hold value and get a new label when sold.

    • Admiral PatrickEnglish
      4•2 days ago

      Yeah, 100%. But, AFAIK, that’s how “art” works. Though you definitely want to make sure the appraiser is legitimate; can’t just have another buddy say it’s worth $12 million and write it off as such.