Athletes and Charity

[The Fire]

i doubt there are athletes that hate doing charity or something. lol

 

[R.E.N. Spells Ren]

This isn’t necessarily always the case. I have a wealth adviser that refers me business who has a bunch of professional athlete clients and basically what he does for all of them is he sets up a 501 c3 organization, which is a non-profit entity that’s exempt from paying taxes. Then the athlete donates the money to their own charity in order to get the write off. The charity will employ the athlete’s friends or relatives, in addition to having some charitable effect. But the athlete gets the write off when they donate to their charity and then the charity is exempt from paying taxes, so it basically allows them to funnel money through there.

Well, yes, if they were gonna pay those friends/relatives anyways, it's "cheaper" to do it through a charity....as long as they keep their shyt in order and don't run afoul of the IRS.

But I was referring to giving to other charities.

 

[Rocket Scientist]

i doubt there are athletes that hate doing charity or something. lol

Serious?Of course they wouldn't admit it

 

[The Fire]

Serious?Of course they wouldn't admit it

I can’t imagine being a wealthy black basketball/football player or something and being like “damn I really don’t want to give $3000 to my old high school”

 

[Remote]

Donate turkeys like Nino Brown




I'm just kidding around

 

[BaldingSoHard]

Why does it matter?

I'm sayin' tho.

Trust me, if you have $xx,xxx,xxx in your checking account, you enjoy giving to charity.

The tax benefits are just icing.

Philanthropy is one of the best feelings in the world.

 

[Rocket Scientist]

I can’t imagine being a wealthy black basketball/football player or something and being like “damn I really don’t want to give $3000 to my old high school”

Just because you have $ doesn't mean your obligated to give to alma mater,it sounds bad but

 

[Rocket Scientist]

People do things for pats on back or if it benefits them.

 

[ThiefyPoo]

People do things for pats on back or if it benefits them.

Damm or some just enjoy it .

People like lebron , John wall , lu will and a few other others not only enjoy but feel a certain responsibility to do so .