{"items": [{"author": "George", "source_link": "https://www.facebook.com/jefftk/posts/514451148577732?comment_id=514476251908555", "anchor": "fb-514476251908555", "service": "fb", "text": "This is the point of money. Tradeable, widely honored debts.", "timestamp": "1358994809"}, {"author": "David German", "source_link": "https://plus.google.com/111229345142780712481", "anchor": "gp-1359049913074", "service": "gp", "text": "If someone else makes a donation to \"pay\" me, I can't deduct it. ", "timestamp": 1359049913}, {"author": "Jeff Kaufman", "source_link": "https://plus.google.com/103013777355236494008", "anchor": "gp-1359051495672", "service": "gp", "text": "@David German\n\u00a0You also don't pay income taxes on it, because it never goes via you.", "timestamp": 1359051495}, {"author": "Jeff Kaufman", "source_link": "https://www.facebook.com/jefftk/posts/514451148577732?comment_id=514799028542944", "anchor": "fb-514799028542944", "service": "fb", "text": "@George: a practical difference is that paying with donations isn't taxed.", "timestamp": "1359056027"}, {"author": "George", "source_link": "https://www.facebook.com/jefftk/posts/514451148577732?comment_id=514804585209055", "anchor": "fb-514804585209055", "service": "fb", "text": "Another reason I want to get rid of the tax exempt status of charitable giving.", "timestamp": "1359057495"}, {"author": "Arthur", "source_link": "https://www.facebook.com/jefftk/posts/514451148577732?comment_id=514842991871881", "anchor": "fb-514842991871881", "service": "fb", "text": "This only matters, of course, if you actually ever give money to charities.", "timestamp": "1359065581"}, {"author": "George", "source_link": "https://www.facebook.com/jefftk/posts/514451148577732?comment_id=514846545204859", "anchor": "fb-514846545204859", "service": "fb", "text": "What is the antecedent of \"this\" in your comment, Arthur?", "timestamp": "1359066599"}, {"author": "David German", "source_link": "https://plus.google.com/111229345142780712481", "anchor": "gp-1359067081541", "service": "gp", "text": "Oh, for donations in lieu of wages, sure. I was only thinking about loan repayment. ", "timestamp": 1359067081}, {"author": "David Chudzicki", "source_link": "https://plus.google.com/106120852580068301475", "anchor": "gp-1359091719523", "service": "gp", "text": "David's concern about tax deductions calls to mind a neat opportunity for donations as loan repayment:\n
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\nA clarification, first: To repay a $100 loan, the repayer should really donate a bit more than $100. It could be a $100 donation plus the amount of cash the lender would save on her taxes by making a $100 donation. Or all donation, but even slightly larger than that due to the taxes saved from the extra donation (and so on).\n
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\nThe opportunity arises when the repayer has a higher marginal tax rate than the lender. Then you can figure out the right donation amount based on each of their taxes, and split the difference or something. \n
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\nI'm assuming the repayment isn't counted as income, which seems right. \n
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\nAfter typing all that, a problem occurs to me: If the borrower \"repays\" as a donation, then for tax purposes they probably aren't repaying at all and have tax liabilities for the gift, so the benefit above washes out or worse. ", "timestamp": 1359091719}, {"author": "Jeff Kaufman", "source_link": "https://www.facebook.com/jefftk/posts/514451148577732?comment_id=515157108507136", "anchor": "fb-515157108507136", "service": "fb", "text": "@George: \"Another reason I want to get rid of the tax exempt status of charitable giving.\"

That would make paying with donations (for employment) even more attractive. In a world without tax deductions for charitable giving, if my employer pays me $X and then I donate it, I pay taxes on $X as income. If they donate the money I never get it and don't have to pay taxes on it.", "timestamp": "1359121459"}, {"author": "David German", "source_link": "https://plus.google.com/111229345142780712481", "anchor": "gp-1359121567140", "service": "gp", "text": "@David Chudzicki\n\u00a0Gift tax is paid by the giver, and there is an exclusion of $13,000 per recipient per year. [1] \u00a0So, yes, a person in a lower tax bracket could conceivably give that much to a person in a higher tax bracket to donate, and generate a tax benefit they could split.\n
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\nI am not confident this is actually permissible. \u00a0I don't intend to pursue it myself, and I'd encourage anyone considering it to seek a tax attorney's advice first. \u00a0In particular, I'm worried it may run afoul of the step transaction doctrine. [2]\n
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\n[1]\u00a0\nhttp://www.irs.gov/publications/p950\n
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\n[2]\u00a0\nhttp://en.wikipedia.org/wiki/Step_transaction_doctrine", "timestamp": 1359121567}, {"author": "David Chudzicki", "source_link": "https://plus.google.com/106120852580068301475", "anchor": "gp-1359132263612", "service": "gp", "text": "Mmm, thanks. ", "timestamp": 1359132263}, {"author": "George", "source_link": "https://www.facebook.com/jefftk/posts/514451148577732?comment_id=515259548496892", "anchor": "fb-515259548496892", "service": "fb", "text": "Does the employer get any tax benefit for their taxes by donating money to charities? But you're right, I didn't think through my comment.", "timestamp": "1359138256"}]}