Mr, Frost’s parents give $40,000.00 a year to that private school...TAX DEDUCTIBLE....and then the School gives the kids almost “free” tuition!!! SWEET DEAL! The Frost’s are doing some TAX dodging manuevers.””
Seems like the IRS needs to look at both Mr Frost’s woodworking business tax returns and HIS FATHER’S tax returns.
How big a loophole is it in the charity laws that you can write off a “deduction” for a “donation” to a private school and then your grandkids get to go to the school for a rate that is almost tuition free???????
Calling the IRS!!! Calling the IRS!!!
Please- isn’t there a Freeper who works for the IRS?????
Why would you call for the IRS to audit someone and their parents?
That is ridiculous. Are you a Clinton?
“How big a loophole is it in the charity laws that you can write off
a “deduction” for a “donation” to a private school and then your grandkids
get to go to the school for a rate that is almost tuition free???????”
That question is a bit above my paygrade.
But, I do know that for some charitable donations, that in order
to get onto Schedule A (itemized deductions), the donation, once in
the hands of the qualified charity, can’t be deductible if used to
benefit a specific person.
E.g., a donation to a cemetary for general upkeep of the whole cemetary
can be deductible.
But, if utilized for the upkeep of just the plot of the donor’s relative,
that’s not deductible.
Donations to a school and then targeted to pay for a relative’s
tuition? I don’t know if that’s legit for a tax write-off or not.
“Please- isn’t there a Freeper who works for the IRS?????”
Where’s my old “Nixon Now” button? He’d already have a three-inch thick file on them by now!