If I’m in the checkout at a business, say McDonald’s or Walmart or Kroger or whatever, and they ask if I’d like to round up to donate to some charity, I usually say yes. But should I be doing this? I heard somewhere that I shouldn’t because they can claim that as a donation from them which contributes to them paying less taxes or something, I’m not sure if that’s 100% how it works but I figure that it benefits them somehow or why else would they do that?
Going to stop you right there and say, No the business does not take your contribution and offset their own tax liability with it.
The whole partnership with charity is purely a feel good transaction.
On further research, you are correct. I’ve heard the thing about it being deductible for the business repeated enough that I thought it was true. Guess that’s just a reminder to always be fact-checking. I will be editing my comment accordingly. I do feel like the rest of my comment still has some value on how to determine whether it’s worth it or not.
Thank you for pointing out my wrongness.
Not to worry mate.