Don_Dickle@lemmy.world to No Stupid Questions@lemmy.world · 1 month agoIf I was a college athlete instead of accepting money out right. If I created a charity where they could "donate", and keep all the money? Is this illegal or illegal how so?message-squaremessage-square14linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-down1message-squareIf I was a college athlete instead of accepting money out right. If I created a charity where they could "donate", and keep all the money? Is this illegal or illegal how so?Don_Dickle@lemmy.world to No Stupid Questions@lemmy.world · 1 month agomessage-square14linkfedilink
minus-squaredis_honestfamiliar@lemmy.sdf.orglinkfedilinkarrow-up0·1 month agoSo then wait. So why not just make a charity, then employ myself as manager or something.
minus-squareSGG@lemmy.worldlinkfedilinkEnglisharrow-up0·1 month agoIn most countries charities have reporting requirements and rules to follow to stop exactly this method of fraud.
minus-squareZwuzelmaus@feddit.orglinkfedilinkarrow-up0·1 month ago make a charity, then employ myself as manager or something. Such a stunt is usually done with a “foundation” instead of a normal charity. Depending on your legislation, this may indeed become a loophole to receive donations and avoid taxes.
So then wait. So why not just make a charity, then employ myself as manager or something.
In most countries charities have reporting requirements and rules to follow to stop exactly this method of fraud.
Such a stunt is usually done with a “foundation” instead of a normal charity.
Depending on your legislation, this may indeed become a loophole to receive donations and avoid taxes.