{"id":5628,"date":"2018-10-09T03:18:58","date_gmt":"2018-10-09T03:18:58","guid":{"rendered":"https:\/\/www.austinshortfilm.com\/blog\/does-making-charitable-donations-actually-save-you-money-misconception-monday\/"},"modified":"2018-10-09T03:18:58","modified_gmt":"2018-10-09T03:18:58","slug":"does-making-charitable-donations-actually-save-you-money-misconception-monday","status":"publish","type":"post","link":"https:\/\/www.austinshortfilm.com\/tech\/does-making-charitable-donations-actually-save-you-money-misconception-monday\/","title":{"rendered":"Does Making Charitable Donations Actually Save You Money? | Misconception Monday"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"480\" height=\"270\" src=\"\/\/www.youtube.com\/embed\/HiR95SfoLRU\" frameborder=\"0\" allow=\"autoplay; encrypted-media\" allowfullscreen><\/iframe><\/p>\n<p>#taxdeductions #businessadvice  #businesslawyer<br \/>\nhttp:\/\/cenkuslaw.com<\/p>\n<p>This is Misconception Monday, where we tackle common misconceptions in business law, business and society generally. This week, we&#8217;re talking about a general misconception around tax deductions.<\/p>\n<p>You&#8217;ve probably heard that you can save money on taxes by making charitable donations to get you below a certain tax bracket. If you really understand the tax system, you&#8217;d realize why that simply isn&#8217;t true. The math just doesn&#8217;t add up!<\/p>\n<p>By donating, you change your effective taxable income (and do some societal good), but you will still take home less at the end of the day. <\/p>\n<p>Charitable donations will reduce your overall tax burden, but the bottom line is that they won&#8217;t increase your net income.<\/p>\n<p>Watch the video for more detail, and contact me with any questions!<br \/>\n_____________________________________________<\/p>\n<p>For a deeper dive into  and other legal issues vital to the success of your deals and your business, visit me at:<br \/>\nhttp:\/\/www.cenkuslaw.com<\/p>\n<p>Just starting up? Check this out for my advice on startup success: http:\/\/www.thestartupshepherd.com.<\/p>\n<p>You can also reach me at:<\/p>\n<p>https:\/\/www.linkedin.com\/in\/brettcenkus<\/p>\n<div class=\"newsmag-video-container\"><a class=\"twitter-timeline\" data-width=\"600\" data-height=\"900\" data-dnt=\"true\" href=\"https:\/\/twitter.com\/bcenkus?ref_src=twsrc%5Etfw\">Tweets by bcenkus<\/a><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<p>http:\/\/www.cenkuslaw.com<\/p>\n<div class=\"newsmag-video-container\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"1nM8SEjGhk\"><p><a href=\"http:\/\/www.cenkus.com\/\">Home<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" src=\"http:\/\/www.cenkus.com\/embed\/#?secret=1nM8SEjGhk\" data-secret=\"1nM8SEjGhk\" width=\"600\" height=\"338\" title=\"&#8220;Home&#8221; &#8212; Brett Cenkus\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<p>_______________________________________________<\/p>\n<p>About me:<\/p>\n<p>My 20+ years of experience in business finance, business law and entrepreneurship have led me to believe that numbers and logic are awesome tools, but understanding human nature and emotions is the first step to business success. <\/p>\n<p>The Cenkus Law Firm provides services related to mergers &#038; acquisitions, general business issues and startups, including founders\u2019 agreements and fundraising. I also consult with entrepreneurs and have invested my own capital as an angel investor.<\/p>\n<p>From 2010-2013 I served as Chief Legal Counsel of a publicly-trade international oilfield services company. From 2001 to 2006 me and a partner founded and built Paragon Residential Mortgage. Paragon was sold to Bridge Investments in 2006. <\/p>\n<p>I hold a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania. <\/p>\n<p>Now, I live in Austin, TX with my wife and two kids. I enjoy reading, running, classic movies, great food and wine and some great American football.<\/p>\n<h3>More info on Does Making Charitable Donations Actually Save You Money? | Misconception Monday<\/h3>\n<div class=\"ss-local-rss\"><div class=\"rss_header\"><h2><a href=\"https:\/\/cn.bing.com\/news\/search\/?q=Does+Making+Charitable+Donations+Actually+Save+You+Money%3F+%7C+Misconception+Monday&amp;qft=sortbydate%3D%221%22&amp;format=rss\" rel=\"nofollow\" class=\"rss_title\">Does Making Charitable Donations Actually Save You Money? | Misconception Monday - BingNews<\/a><br \/><span class=\"rss_description\"> Search results<\/span><\/h2><\/div><ul>\n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.choice.com.au%2Fhome-and-living%2Fkitchen%2Fbenchtop-cooking%2Farticles%2Fwill-an-air-fryer-save-you-money&amp;c=10763100341645546867&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tWill an air fryer save you money?\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>\"Multi-cookers are real kitchen workhorses and can replace multiple appliances in your kitchen to really help you with meal prep and planning, which in turn can save you money on groceries ... This ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.slashgear.com%2F1553858%2Fways-old-phone-could-save-money-2024%2F&amp;c=4454967766793734560&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\t10 Ways Your Old Phone Could Save You Money In 2024\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>And why spend the money on something ... although you might struggle to find many that support 4K video. However, unless you're planning on live streaming or making video sales calls, this shouldn ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.bodyandsoul.com.au%2Fnutrition%2Fsave-you-money-and-eat-healthy-at-the-supermarket%2Fnews-story%2Fde6db17ca1c0efcfa45e9ee98c36e25b&amp;c=13652437376697440762&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tTricks that will save you money at the supermarket while eating healthy\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>When a single bag of spinach costs more than an entire fast food burger, making healthy choices ... why online grocery shopping will save you time and money in the long run. The app or website ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.msn.com%2Fen-us%2Fmoney%2Fpersonalfinance%2Ffrugal-money-habits-that-are-actually-making-you-poorer%2Fss-BB1lIsrC&amp;c=6466536279606977194&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tFrugal Money Habits That Are Actually Making You Poorer\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>Investing in quality might hit your wallet hard initially, but it\u2019ll save ... making you less likely to impulsively splurge on a big-ticket item out of frustration. Cooking at home saves money ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.iol.co.za%2Fentertainment%2Fstreaming%2Ftech-hack-this-is-how-you-can-save-money-when-streaming-your-favourite-shows-68d6e4ef-7a8a-4fdd-a50d-7708e13442b7&amp;c=15793924773144092253&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tTech hack: This is how you can save money when streaming your favourite shows\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>Do you use streaming services like Netflix, Amazon Prime Video, or Disney Plus? If you\u2019re signed up for many services, the costs can quickly add up, especially with each platform\u2019s annual ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Flifehacker.com%2Ftravel%2Fa-diy-car-repair-garage-can-save-you-money&amp;c=3096188743436036804&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tYou Can Save Money on Car Repairs by Using a DIY Garage\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>If you\u2019ve got a beater ... cars\u2014or if you know someone who does and who is willing to help you out\u2014renting a bay at a DIY garage can save you a ton of money while keeping your wheels on ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.thesun.co.uk%2Fmotors%2F27338019%2Fdriving-trick-slash-fuel-use-save-money-pump%2F&amp;c=3410542189978655708&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tExpert reveals little-known trick to help slash fuel use to save you money at the pump\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>A MOTORING expert has revealed a little-known trick which can help slash the amount of fuel used and therefore save you money at the pump ... \u201cIt's about making smarter choices on the road ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.thestar.com%2Fbusiness%2Fpersonal-finance%2Fexpert-advice-to-avoid-tax-filing-mistakes-and-save-you-money%2Farticle_0c13ad44-f5c7-11ee-ac57-5f5b344b4319.html&amp;c=16850038096047799504&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tExpert advice to avoid tax-filing mistakes \u2014 and save you money\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>With the tax filing deadline just a few weeks away, experts say combing your return for errors or omissions before filing can help save you money. Jason Health, managing director at Objective ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.therecord.com%2Fbusiness%2Fpersonal-finance%2Fexpert-advice-to-avoid-tax-filing-mistakes-and-save-you-money%2Farticle_f0dad646-bc2c-52ce-baed-3733fb145932.html&amp;c=3075990507354681159&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tExpert advice to avoid tax-filing mistakes \u2014 and save you money\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>With the tax filing deadline just a few weeks away, experts say combing your return for errors or omissions before filing can help save you money. Jason Health, managing director at Objective ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Ftasteofcountry.com%2Fsimple-kitchen-hack-save-money%2F&amp;c=13886587749547079580&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tThis Simple Kitchen Hack Will Save You Money + It\u2019s a Total Game Changer\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>and it'll be so clean that it squeaks when you rub your finger along the inside. I've reached the stage where I actually anticipate pitching in with the dishes after a gathering just so I can ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.foxbusiness.com%2Fmoney%2Fweird-ways-spending-unnecessarily-home-without-realizing&amp;c=4848290073322716616&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\t4 weird ways you\u2019re spending unnecessarily in your home without even realizing\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>You work hard for the money you earn. Don\u2019t let it be spent wastefully. If you\u2019re trying to save a dime, there are ways to do so, starting right at home with simple changes. Look out for these ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            \n            <li>\t\t\t\t<span class=\"title\">\n\t\t\t\t\t<a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&amp;aid=&amp;tid=663869cb19f54aa5b33543cf311accd6&amp;url=https%3A%2F%2Fwww.clickorlando.com%2Fsolutionaries%2F2024%2F04%2F12%2Frobots-revolutionize-homebuilding-with-3d-printing-technology%2F&amp;c=15062063199829631999&amp;mkt=en-us\" rel=\"nofollow\">\n\t\t\t\t\t\tRobots are revolutionizing homebuilding with 3D printing technology. Could it save you money?\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t<div>\n\t\t\t\t\t<p>We have actually 3D printed some ... \u201cI\u2019d say our biggest challenge is making enough robots to satisfy demand for people,\u201d he said. \u201cWhen you\u2019re starting to build technology of this ...<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/li>\n            <\/ul> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>#taxdeductions #businessadvice #businesslawyer http:\/\/cenkuslaw.com This is Misconception Monday, where we tackle common misconceptions in business law, business and society generally. This week, we&#8217;re talking about a general misconception around tax deductions. You&#8217;ve probably heard that you can save money on taxes by making charitable donations to get you below a certain tax bracket. If you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5629,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":""},"categories":[9],"tags":[434,2584,2585,748,2318,1576,1284],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/www.austinshortfilm.com\/wp-content\/uploads\/2018\/10\/HiR95SfoLRU.jpg","_links":{"self":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/posts\/5628"}],"collection":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/comments?post=5628"}],"version-history":[{"count":0,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/posts\/5628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/media\/5629"}],"wp:attachment":[{"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/media?parent=5628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/categories?post=5628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.austinshortfilm.com\/wp-json\/wp\/v2\/tags?post=5628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}