If I make a sale and contribute $.20 on each dollar to a local charity, do I pay income tax on the whole sale or after the contribution?
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M$2 Answers
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*Even though you get a deduction in April- things like Social Security and Medicare still have to come out.
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M$
However, from my (non accountant) point of view, you need to claim all of your income.
Then, if you give some away to charity, you can account for those credits properly.
However, you can't simply say that you make 0.80 of every dollar simply because you give 0.20 away.
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M$
