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Reply to "Giving .4% of $260,000 to charity"
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[quote=Anonymous]FWIW, tax returns don't always tell the whole story. For example, we donated a six-figure sum to a charitable trust all in one year and then made gifts from that trust in subsequent years that did not appear on tax returns (because the deduction was already given when we put the money into the trust). So anyone who would have looked at our tax returns during the next few years might have thought us to be quite uncharitable, when in fact we were making multiple five-figure gifts each year. The %age evened out to 5% or 6% of income each year, but using the trust allowed us to take the deduction in a high income year and maximize the benefit. Point being, things are not always what they seem.[/quote]
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