Churches pay no tax because their profits are supposed to be not for any one’s gain. They give 100% of it away to charity, so they say.

Same goes with non-profits, however, if you want, you could apply for a tax number and you could advertise your non-profit, say for saving lizards or something, and collect all the money people want to give you. There is somewhere it’s posted on how much a particular charity gives away versus how much they keep, but I don’t where it is. Welcome to America!

The IRS should go after all the people getting free money that don't qualify. Lots of cheating going on.

Very true

There two well known charity rating websites, Guidestar and Charity Navigator. On those sites, you can access the IRS Form 990 tax forms that charities are required to file every year. Unfortunately, a charity does not need to be efficient. So, it is perfectly legal for a charity to collect millions of dollars, but only spend a few hundred on their stated mission.

Very often get a call from a so called charity like one supposedly supporting police. I always what percentage goes to help police or their families.

Normal answer is a lot. So I ask for percentage going for expenses and never can get an answer so I just say bye

Except for the fact that isn't true.

jealous much?

I am not sure if this idea is drawn from CNN or Marx.
It is like saying that you don't pay taxes on a 401k.
Simply a lie.
Whatever profit a corporation makes goes to someone or something.
It goes to the shareholders, who have to pay taxes on it at some point.
Or it goes to employees, who have to pay taxes on it.
Or it gets reinvested in to the business which most likely increases future profits and probably jobs also.

So saying that corportations make millions/billions without paying any taxes is just the result of lazy logic.

My guess is that you think this works because it is not you paying the lion's share. And if the rich truly controlled the system, they wouldn't be paying the overwhelming portion of the tax burden. It is the politicians who control the system. And the politicians benefit by pleasing the greatest number of people, which increases their odds of re-election. And that is why 60% of households pay nothing.

BINGO!

In my not-so-humble opinion on this one (a hot button for me) — all these churches that are preaching politics from the pulpit should lose their tax-exempt status…..

Many of them are nothing more than political machines, using members as voting tools by keeping them angry and self-righteous and distracted.

Separation of church and state is for a reason. This does not mean we should be a nation of heathens, but c’mon, politics from the pulpit is out of control — and there is no reining it in.

And America pays — in so many, many ways.

Boomer

rg123, I think you can answer this for me……

Are there things in “the regular people” part of the tax law changes that went into effect in 2017 that are set to expire soon?

Seems like I thought that once-upon-a-time — but I am not sure.

I don’t think it has been an advantage to a lot of regular people, other than simplifying record keeping, because there are no deductions for us.

Boomer

There a several websites that you can Google to get all the details. But, basically, the tax rates will increase and the standard deduction will be cut in half, although part of that will be offset by restoring the personal exemption. These changes will become effective in 2025, unless Congress acts to delay or change things. I don't see anything that "regular people" can do to improve their tax situation. I expect to pay higher taxes in 2025, but the current higher interest rates have greatly increased my interest income.

I was being lazy (but I think you probably knew that already) and figured I could just ask you. You saved me from the rabbit hole or helped me put it off, at least. Thanks. :)

I thought there was something. Does not sound good.

And then gotta watch out or IRMAA’s gonna getcha! (sigh)

Boomer

Can I assume that you are also outraged by planned parenthood's tax exempt status since they are constantly preaching from their pulpit and donating to political candidates?

Just don't sell the family farm, so to speak. IRMAA will max out, AMT will hit hard, section 1250 property unrecaptured gain will be taxed at regular income rates (up to 25% - not 37%, thankfully) and to top it off Obamacare's 3.8% icing on the cake will finish the job of substantially reducing your net worth. So much for loopholes, bah, humbug!

Recent weeks shows us the IRS/DOJ will not put people in jail even if they cheated on millions of dollars of income. That is true isn't it? Does that just apply to certain people?

Death Tax is coming back. This is the worse thing possible for family farms/business. Tax on tax until they are no more.