Aloha !
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Originally Posted by Walleris
If we use your example, Jon keeps 3,750,000 to himself instead of 5,000,000 he would if he didn't do the write-off. He still ends up spending a large chunk off his own pocket. Does he not deserve get credit for that, even if the faulty US tax system is a major assistance?
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Yeah, that's one way to look at it. I see it differently though: In order to keep 3.750.000 he has to spend 5.000.000 first. Would he not spend the 5.000.000 he'd get to keep none of it.
Quote:
Originally Posted by Walleris
I also get the whole "doing charity for image" angle, but his work is much lower-profile from a publicity standpoint than some of his peers (e.g. Bono, Beyonce, Taylor Swift just to name a few) and is directly related to local community.
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I'm not sure. I know Bono's charity stuff mostly because he loves talking talking to presidents and popes and refuses to leave it out of the live shows. I've no idea what Beyonce and Taylor Swift do, it all depends on as to whether how much you follow certain artists.
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Originally Posted by Walleris
I believe from being a die-hard fan for 10 years that his track record is one of a genuinely good dude overall. But in the end, nobody knows for sure.
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I don't think Jon's evil either. I do think he's a twat for shitting on his fans the way he's done the last 10 years and at the same time gets so much credit for being such a saint. I'm sure he enjoys granting little wishes like seeing that kid with leukemia. The way I see it is he gets to be such a saint is because I bought so many tickets.
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Originally Posted by bjcrazycpa
Since I am a U.S. tax CPA, I want to clarify just one little detail. If you have a private foundation and you are considered a "disqualified person" defined as a trustee, director, manager or officer, you cannot take a charitable contribution deduction on your own personal tax return for any monies given to the private foundation. That would be a violation of the IRS self dealing rules. So, although Jon gets to take tax deductions for other charitable donations he can't take them for his own foundation.
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Thanks, this gives a little bit more insight. The foundation does several projects together though, technically Jon's still capable of donation money to Habitat for Humanity under the promise Habitat for Humanity sponsors one of the projects from the Soul Foundation.
But meh, you're right. This is getting all a bit too technical and who gives a shit really as to how he spends his money. What bothers me isn't as to whether he deducts it or not. It's how he's portrayed as a saint while at the same time charges 1.000 dollars on a lawn ticket. I'm very much aware he's not the only one, but he used to be one of the guys who didn't charge enormous amounts of money when playing the big venues. In the end greed got to him too, which leaves me a bit bitter, I guess.
Salaam Aleikum,
Sebastiaan