[JMintzer]

Originally Posted by Vermilion Villager

Yes....but what you may or may not not realize is SECO also gets to deduct this amount on THEIR taxes. I know nine dollars for an individual account doesn't amount to a lot but just think how many hundreds of thousands of accounts SECO has, and are getting the tax benefit of all those charitable contributions.

What benefit?

Let's say they collect $1,000,000 in those extra fees. That now counts as income, right?

So, if they give all that money to charity, it's like it never happened. Money in = Money out. A net "wash"...

But they let YOU deduct that charitable contribution, (per what was written on the announcement letters). So basically, they are nothing but a "pass thru" account for the charitable contributions...