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re: Mizzou NIL
Posted on 12/4/23 at 4:23 pm to notsince98
Posted on 12/4/23 at 4:23 pm to notsince98
Yeah, because without adjustments to income, the company is stuck in a higher tax bracket. That's why government incentives are so huge. For example we get subsidized through tax credits for American Made solar panels instead of importing cheaper Chinese panels.
Instead of giving a rebate on each American panel, we get a tax credit to lower taxable income. To max out the benefit it's great when you can break into a cheaper tax bracket. And by law a business can use a small percentage of income for charitable contributions as a tax credit.
Instead of giving a rebate on each American panel, we get a tax credit to lower taxable income. To max out the benefit it's great when you can break into a cheaper tax bracket. And by law a business can use a small percentage of income for charitable contributions as a tax credit.
This post was edited on 12/4/23 at 4:29 pm
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Posted on 12/4/23 at 7:04 pm to surgicalvenom
Does your company give you the leeway as to where to put the charitable donation? I’m assuming Mizzou is educating and pitching this to prospective participants in the collective right?
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