So id like to help people with a method similar to the following.
own a business, use as much as the profits to help people. by helping people, I'm envisioning donating to charities. Lets say it will cost 45% of all revenue to fund the business, and another 25% for all other misc.... purposes. That would leave 30% for donations.
MY questions
1.) will this method work?
2.) If this works in some format, will it be realistic considering your TAX'S?
3.) Lastly, say donations are the best way to help, is that money gone or if it is tax deductible will the business receive the money back?
own a business, use as much as the profits to help people. by helping people, I'm envisioning donating to charities. Lets say it will cost 45% of all revenue to fund the business, and another 25% for all other misc.... purposes. That would leave 30% for donations.
MY questions
1.) will this method work?
2.) If this works in some format, will it be realistic considering your TAX'S?
3.) Lastly, say donations are the best way to help, is that money gone or if it is tax deductible will the business receive the money back?