2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity

edd

donator

Activity: 1414

Merit: 1002

Quote from: Mike Christ on June 15, 2013, 08:27:06 AM

Quote from: edd on June 15, 2013, 08:24:54 AM

Which is actually the purpose of reporting tax deductible donations.

As I said, it would be easier to simply let them be, than to jump through hoops in the hopes of the same effect.

I don't understand. There is nothing stopping me from donating whatever I want to whomever I want.

Mike Christ

legendary

Activity: 1078

Merit: 1003

Quote from: edd on June 15, 2013, 08:24:54 AM

Which is actually the purpose of reporting tax deductible donations.

As I said, it would be easier to simply let them be, than to jump through hoops in the hopes of the same effect.

edd

donator

Activity: 1414

Merit: 1002

Quote from: Mike Christ on June 15, 2013, 07:09:36 AM

Quote from: kjlimo on June 15, 2013, 12:19:30 AM

... and get tax advantages...

The only advantage to ever come from taxes is the lack thereof Tongue

Which is actually the purpose of reporting tax deductible donations.

Mike Christ

legendary

Activity: 1078

Merit: 1003

Quote from: kjlimo on June 15, 2013, 12:19:30 AM

... and get tax advantages...

The only advantage to ever come from taxes is the lack thereof Tongue

kjlimo

legendary

Activity: 2128

Merit: 1031

Quote from: Mike Christ on June 14, 2013, 10:05:48 PM

Quote from: kjlimo on June 14, 2013, 07:53:06 PM

Do they have any requirements for the charities to be awarded the $1,000 worth of bitcoins?

Also, interesting debate in the comments.

"Note: Donations made in BitCoins are not tax-deductible under current US tax law."

Why would this be the case?

So say you don't want to consider them monetary donations; couldn't they still be non-cash donations?

How does it work if you donate Euros to a US charity?

Beats me. All these needless rules just so two entities can exchange wealth.

... and get tax advantages...

Mike Christ

legendary

Activity: 1078

Merit: 1003

Quote from: kjlimo on June 14, 2013, 07:53:06 PM

Do they have any requirements for the charities to be awarded the $1,000 worth of bitcoins?

Also, interesting debate in the comments.

"Note: Donations made in BitCoins are not tax-deductible under current US tax law."

Why would this be the case?

So say you don't want to consider them monetary donations; couldn't they still be non-cash donations?

How does it work if you donate Euros to a US charity?

Beats me. All these needless rules just so two entities can exchange wealth.

kjlimo

legendary

Activity: 2128

Merit: 1031

Do they have any requirements for the charities to be awarded the $1,000 worth of bitcoins?

Also, interesting debate in the comments.

"Note: Donations made in BitCoins are not tax-deductible under current US tax law."

Why would this be the case?

So say you don't want to consider them monetary donations; couldn't they still be non-cash donations?

How does it work if you donate Euros to a US charity?

cescan

sr. member

Activity: 406

Merit: 250

http://www.coindesk.com/bitcoin100s-dilemma-too-many-bitcoins-not-enough-charity/

Murashchik is the treasurer for Bitcoin100, an organization dating back to November that aims to donate $1,000 worth of bitcoins to various charities. As a volunteer — all members of the group are — he’s tasked with a number of responsibilities, from overseeing a website relaunch to finding beneficiaries to donate to. The latter has been proving especially challenging.

Topic: 2013-06-14 Bitcoin100′s dilemma: Too many bitcoins, not enough charity (Read 920 times)