Charity Tax Deductions

It sounds to me like you're explaining Tax Deductions through Charity which is already a thing.

You can't donate money in place of paying taxes; for a toy model let's say this person spent $10 to buy bitcoin long ago, now it's worth $140,000,010, he wants to completely exit his exposure to bitcoin. If he converts it to cash now it he has to pay taxes on $140m of capital appreciation. Let's say he donates $55m worth of bitcoin to charities. If he wants to convert the remaining $85m worth of bitcoin to cash, he still has to pay taxes on that. Hence by making a donation, h

Can you explain this to me?As far as I understand, at best you can subtract your donations from your income, so you won't have to pay income taxes on those donations. Even if you can subtract the donation directly from your taxes, you still lose the same amount of money.Either way the philanthropist loses at least as much money as the taxes he would've paid without the donations.

Isn't it how tax incentives work?Effectively she donated a bunch of money to a charity instead of the federal tax fund. Hopefully the charity is more efficient!

Give to a charity while contributing less tax. It's a zero-sum game.

Does it lower their effective tax? Where they claim the donation, so that I've effectively donated to them?

You get a tax deduction by applying a donation against other income.If they are giving away everything, then there is nothing to offset the donation (except the $17B).So it kind of makes sense?If own a single asset worth $1B and donate it all, I have no tax write off because I have no money.

Donate to charity while avoiding to pay state/country taxes which can benefit the whole community sounds so hypocrit !

I believe this is a corporate tax game they are partially playing, as they can write off your charitable donation as their tax benefit. (Never round up, just donate directly to charities you choose.)

Giving money to charity isn't a tax break. Sure you won't have to pay taxes on that money but that will be money I no longer have. If I don't give $100 to a charity that would have been taxed at 35% (e.g.), My bank account goes down $100 still, the government loses $35 they would have gotten as taxes (fed+state/local), but the hacker space got $100. If I hadn't donated I would get to keep $65 and the government $35, but I wouldn't have helped hackerspace at all. So