Kevin Durant gives 1 million for OK tornado relilef

[hawkfan]

http://www.newson6.com/story/22311452/kevin-durant-donates-1-million-to-oklahoma-tornado-victims

Classy gesture by a classy player.

[TheMarkMadsen]

Wow that's impressive.


Props to Durant. This guy will be with OKC for life.

[tomtucker]

perkins.......you know what i said to you : your entire 2012 and 2013 salary, thank you very much

[Trollsmasher]

Westbrook should donate 1,1 million:coleman:

[Psycho]

Would have been classier if he did it anonymously.

[KG215]

It's all an act. "Fake humble guy", "Fake nice guy", etc. What a f**king douche. Donating $1M just to keep up his bullshit "good guy" act.

[Mrofir]

Would have been classier if he did it anonymously.

Sometimes it's ok to do the right thing in a public way, and then accept credit for it. It's called being a role model.

His money will help just as much as if he would have donated it anon.

[VIntageNOvel]

a slumpbuster :applause:

[kurple]

It's all an act. "Fake humble guy", "Fake nice guy", etc. What a f**king douche. Donating $1M just to keep up his bullshit "good guy" act.
:facepalm

how can you look at it this way? should he not have given 1M? I'm sure they need the money

[wang4three]

Would have been classier if he did it anonymously.

Don't see how it would be considered classier.

[LJJ]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.

[tomtucker]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.

you sure......?.....:biggums:

[triangleoffense]

you sure......?.....:biggums:
yes it's true. Not spending any money is sort of a relative term. He had pay the upfront cost of putting up the $1 million but once the next tax season comes along he can write it off entirely as a tax deduction.

[9512]

$1 million? That's not that much considering how much he probably has in the bank.

But the $1 million sure will be helpful though. So OK victims win.

[TheMarkMadsen]

Wow some of you will hate on anything.


Durant cures cancer " meh he could have done it anonymously"

1 mill is a lot to donate, and seeing as its being donated by OKCs favorite athlete it's an uplifting story that can bring some light to the people of OKC in the middle of a crisis, why would the OKC media keep it anonymous?

[Psycho]

Don't see how it would be considered classier.

He's taking attention away from the actual victims. He could have just slipped them the money to help them, but instead decides to take news time from the people who actually deserve it so people can see how much Durant helped out.

[PizzamanIRL]

I can't believe people are still looking for something to nit pick at.

He didn't announce the donation either.

[ripthekik]

:applause: :applause: :applause:
KD

smh at the haters :facepalm

[daily]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.


He'll maybe recoup 30% of it. No such thing as a 100% write-off

Good For KD, also being reported that Perkins is getting his hands dirty at a donation center as well as Thabo at another relief center

[bmd]

$1 million? That's not that much considering how much he probably has in the bank.

But the $1 million sure will be helpful though. So OK victims win.He donates a million dollars, and you are complaining that he didn't give enough?

...some people...

[tikay0]

:applause: Wow, that's very impressive.

[9512]

He donates a million dollars, and you are complaining that he didn't give enough?

...some people...

He could chip in $5 to $9 million and his lifestyle, his wife's, kids', parents', parents in law will STILL not be affected.

[AT9]

Wow. That's awesome.

To the critics, how much have you donated? $1 million is a ton of money and extremely generous. Period.

[wang4three]

He's taking attention away from the actual victims. He could have just slipped them the money to help them, but instead decides to take news time from the people who actually deserve it so people can see how much Durant helped out.

I don't see how he's taking attention away. If anything else, he's bringing more attention to the relief. He has the ability to inspire other people, players, and celebrities to donate to the relief. He's inspiring the community by showing sport as a prominent figurehead in the community... really, I don't see how he's taking attention away. It appears to me he's trying to garner more support. His millions of fans around the world may take the same action he's doing and donating. Taking attention away would be him talking about the offseason and what OKC needs to do to compete as a championship. What he's doing is the exact opposite.

[I<3NBA]

he should do a TV special and add the proceeds to that 1 million.

[ripthekik]

He could chip in $5 to $9 million and his lifestyle, his wife's, kids', parents', parents in law will STILL not be affected.
And how much have you chipped in? Even $100 probably wouldn't change your lifestyle or your family's. Have you donated $100?

[TheMarkMadsen]

He could chip in $5 to $9 million and his lifestyle, his wife's, kids', parents', parents in law will STILL not be affected.


How much have you donated?

Surely you can donate $10,000 without it affecting your in laws

[Duderonomy]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.
If that were true every millionaire would give their money to charity and not the IRS. Maybe 30% in deductible. Either way he is denoting .5-1% of his net worth to a cause.

[KG215]

$1 million? That's not that much considering how much he probably has in the bank.

But the $1 million sure will be helpful though. So OK victims win.
It's $1 f**king million dollars! Who cares how much it is in comparison to how much money he has.

[inclinerator]

if he did it anonymously ppl would bash him for not caring

[All Net]

:applause: :cheers:

[I<3NBA]

if he did it anonymously ppl would bash him for not caring
yeah, but....


his handlers could "accidentally" let it slip that he did donate anonymously.

[bmd]

He could chip in $5 to $9 million and his lifestyle, his wife's, kids', parents', parents in law will STILL not be affected.First off, I'm sure that is not the only charity he supports. Secondly, Durant is making about $18 million this year. After taxes it will be about $9 million.

So you are suggesting he gives 55-100% of his yearly after tax income to the OKC relief fund?

[TheMarkMadsen]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.

Wrong

[buddha]

Good move by Durant. Now, calling Clay Bennett... I want to see atleast 2 million from you Clay.

[ripthekik]

yeah, but....


his handlers could "accidentally" let it slip that he did donate anonymously.
and then people like you would bash him and said his handlers purposely let it out.

[AirFederer]

:applause:

[DuMa]

Would have been classier if he did it anonymously.

i disagree. if a donation like that from durant inspires others to donate their money/time as well, it served the purpose (other than giving relief for the effort itself)

[JerryWest]

1m only? you f*cking kidding me! selfish fake guy

[tomtucker]

problem is of course that this shit can happen every year....even several times.........

[(e)]

First off, I'm sure that is not the only charity he supports. Secondly, Durant is making about $18 million this year. After taxes it will be about $9 million.

So you are suggesting he gives 55-100% of his yearly after tax income to the OKC relief fund?
You're wrong about the taxes, but the idiot that suggested he donate like 5 million is just plain retarded lol

Cool thing to do by Durant. All you idiots acting like its nothing should just go ahead and off yourself, fcking pricks.

[TheMarkMadsen]

You're wrong about the taxes, but the idiot that suggested he donate like 5 million is just plain retarded lol

Cool thing to do by Durant. All you idiots acting like its nothing should just go ahead and off yourself, fcking pricks.


Kirk would have donated 2 mill if those tornados hit Kansas :bowdown:

[brantonli]

Lol when players like Harden or Kobe spends money on hookers and diamond rings, ppl are like 'hey it's their money, he'a young, spend it how he likes'. When Durant donates 1 million, some ppl are like 'dude why not $5 mill?'

[9512]

You're wrong about the taxes, but the idiot that suggested he donate like 5 million is just plain retarded lol

Cool thing to do by Durant. All you idiots acting like its nothing should just go ahead and off yourself, fcking pricks.

How is it retarded? Dude's got plenty dough in the bank. Giving $5 million will not make him broke a la Antoine Walker.

[bmd]

You're wrong about the taxes, but the idiot that suggested he donate like 5 million is just plain retarded lol

Cool thing to do by Durant. All you idiots acting like its nothing should just go ahead and off yourself, fcking pricks.I'm not wrong. After federal income taxes, state income tax, local municipal taxes, property tax, sales tax, and more, he is paying close to half.

[Andrew Wiggins]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.


holy shit, how ****ing dumb are you?

some clueless kid trying too hard to sound smart on the internet :roll: :roll:

[(e)]

How is it retarded? Dude's got plenty dough in the bank. Giving $5 million will not make him broke a la Antoine Walker.
:facepalm:

[bmd]

How is it retarded? Dude's got plenty dough in the bank. Giving $5 million will not make him broke a la Antoine Walker.People generally don't just have all their money sitting in the bank. They have their money in all different kinds of different funds and investments, some of which are liquid, as well as savings and checking accounts.

I'm sure he has his finances all budgeted.

Do you know what a budget is? Doesn't sound like you do.

Just because he has a lot of money doesn't mean he should disregard his financial plan for various reasons.

And $1 million is a lot of money to just give away.

[Fudge]

Man...

WHY THE HELL DIDNT HE GIVE 10 MILL. GEEZ **** THIS GUY, SHITS ALL AN ACT TO HIS COOL, CALM, NICE GUY PERSONA!

[wakencdukest]

He did a good thing. Why all the hate?

[Sakkreth]

It's not heroic thing to do when you are millionaire, but definetly something that deserves much respect. How can you hate on that really...

[Westbrook0]

Kevin Durant did NOT announce his donation to anybody. He didn't tweet about it, publicize it or put it on a press release.

Some people at Red Cross knew it was him donating and they announced it and it spread from there.

[FireMcFailPlease]

i can't tell if half of you are serious or not, but 1,000,000 is 1,000,000.

Its a buttload of money no matter who you are talking about. 1 mill to KD or Lebron is a shit load of money to them.

Good for KD. Great gesture and he is a decent man.

[Goldrush25]

I don't care if you have $1 billion in the bank. $1 million dollars is still a lot of money. It doesn't matter how much he has in the bank. He's still giving a more sizeable portion of his net worth to this cause than most people.

People diminishing this act are idiots.

[WWRWestbrookDo?]

Would have been classier if he did it anonymously.
ok

[uber]

Kevin Durant did NOT announce his donation to anybody. He didn't tweet about it, publicize it or put it on a press release.

Some people at Red Cross knew it was him donating and they announced it and it spread from there.

if this is true then he should be respected even more for this donation :applause:

[dh144498]

It's all an act. "Fake humble guy", "Fake nice guy", etc. What a f**king douche. Donating $1M just to keep up his bullshit "good guy" act.

this.

[SonOfMattGeiger]

He'll maybe recoup 30% of it. No such thing as a 100% write-off

Good For KD, also being reported that Perkins is getting his hands dirty at a donation center as well as Thabo at another relief center


that is very wrong. he will get 100% back

[NBAller]

who let the trolls out?

[Rake2204]

This thread reeks of Curb Your Enthusiasm: http://www.youtube.com/watch?v=gqncCjxGqGw

http://media.screened.com/uploads/0/384/557274-vlcsnap_2011_09_11_17h09m41s123.png

[tomtucker]

that is very wrong. he will get 100% back
:biggums: ...then i give a mil too

[LJJ]

holy shit, how ****ing dumb are you?

some clueless kid trying too hard to sound smart on the internet :roll: :roll:

If Kevin Durant's accountant does his job, Durant has a over a million every year to throw at charity with no impact on his income.

But keep parroting other posters dude. You are afraid to get a clue.

[RoseCity07]

Props to Durant. He's a good man.

[PizzamanIRL]

He could have bought a huge house for his family with that million dollars. He gave it to complete strangers instead.

Doesn't matter how much he has in the bank. He isn't obliged to donate because he can afford to.


OKC Thunder as a whole 'only' donated 1 million as well and how much are they worth? Where's all the hate from the losers on that one?

[Goldrush25]

who let the trolls out?

It's a who's who of imbeciles trying to top each other with baseless comments. Guarantee none of them have more than $200 in the bank.

[troyceps33]

"It's also well-worth mentioning that Kevin Durant did not announce this donation. Rather, the Red Cross was the first to point out Durant's contribution (which was made through his personal charity arm, The Durant Family Foundation), with Kevin letting his donation do the talking."

from an article on sports.yahoo.com

[dannywpt]

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.

Yeah, you should probably read up on tax deduction. :roll:

[JMT]

He could chip in $5 to $9 million and his lifestyle, his wife's, kids', parents', parents in law will STILL not be affected.


How much have you donated?

[JMT]

If Kevin Durant's accountant does his job, Durant has a over a million every year to throw at charity with no impact on his income.

But keep parroting other posters dude. You are afraid to get a clue.

A charitable donation does not have any impact on anyone's income.

But you're the smart one. :rolleyes:

[bmd]

Yeah, you should probably read up on tax deduction. :roll:http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Charitable-Contribution-Deductions

"You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions. Generally, you may deduct up to 50 percent of your adjusted gross income, but 20 percent and 30 percent limitations apply in some cases. Exempt Organizations Select Check uses deductibility status codes to identify these limitations."

[Foster5k]

This thread just proves that no matter what good people try to do, there will always be critics.

Anyhow, that was very generous of KD. May God bless him. :D

I know I wouldn't have donated a $1 million.

[Andrew Wiggins]

If Kevin Durant's accountant does his job, Durant has a over a million every year to throw at charity with no impact on his income.

But keep parroting other posters dude. You are afraid to get a clue.

lmao

you have no idea what you're talking about and obviously oblivious to how taxes work in the US

[Fallen Angel]

How is it retarded? Dude's got plenty dough in the bank. Giving $5 million will not make him broke a la Antoine Walker.

So how much money have you donated you f*cking douchebag?

[LJJ]

lmao

you have no idea what you're talking about and obviously oblivious to how taxes work in the US

And literally every single athlete has a "charitable foundation" because every single one of them is an extremely charitable person. Obviously they also need their own foundation to be charitable, rather than say, cut a check to an existing charity with much better connections and the organisation in place to use that "charity money" efficiently. Right?

Seriously, you guys need to get a clue. Rich people charity through their own foundation is NOT the same thing as the 500 dollars you deduct on your personal 15000 dollar income every year.

[JMT]

http://www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Charitable-Contribution-Deductions

"You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions. Generally, you may deduct up to 50 percent of your adjusted gross income, but 20 percent and 30 percent limitations apply in some cases. Exempt Organizations Select Check uses deductibility status codes to identify these limitations."

Which has nothing to do with donations made through a foundation, which is how Durant made his contribution.

Are you in Texas? Instead of spending your time looking up incorrect info in an attempt to diminish the generous act of another, why don't you drive on up to Moore or one of the other areas affected and donate your time and efforts?

[JimmyMcAdocious]

Westbrook?

[dekciw]

I wouldn't be surprised is more players from the thunder followed suit. That being said, very generous act from Durant. One of the few guy of this world that are still down to earth even after achieving wealth and fame.:applause:

[bdreason]

A million is a lot for anyone to donate. Props to KD. :applause: :applause: :applause:

[PickernRoller]

http://www.newson6.com/story/22311452/kevin-durant-donates-1-million-to-oklahoma-tornado-victims

Classy gesture by a classy player.

Pocket change....

Give 1 mill....gaining pop as a the cool guy in the league rakes more than 1 mill in long term contracts. Both new and old. Gunning for that #1 spot slowly but surely.

Classy gesture yes. If I don't say it's, I am a hater, or a hypocrite, or truthful. A combination of both? Maybe Durant is both smart and benevolent.

[russwest0]

Pocket change....

Give 1 mill....gaining pop as a the cool guy in the league rakes more than 1 mill in long term contracts. Both new and old. Gunning for that #1 spot slowly but surely.

Classy gesture yes. If I don't say it's, I am a hater, or a hypocrite, or truthful. A combination of both? Maybe Durant is both smart and benevolent.

Pocket change? He is donating the equivalent of an average Oklahoma household donating 2,500 dollars

[whippyAU]

Hahahaha hating on someone for donating money to a good cause, ISH logic.

[PickernRoller]

Pocket change? He is donating the equivalent of an average Oklahoma household donating 2,500 dollars

Did my comment get you rustled? I am just putting out in the open the many thoughts that pass through a rational mind.

It seems the flocks do lose feathers.

[PickernRoller]

Hahahaha hating on someone for donating money to a good cause, ISH logic.

I consider donating $100 to Haiti's Relief fund pocket change + also a rushed decision. Despite being pocket change.

[edrick]

Would have been classier if he did it anonymously.

I'm assuming he did it publicly to encourage others to donate.

[maybeshewill13]

How great is our GAWDrant :applause: :applause::bowdown: :bowdown:

[apesta]

Good gesture by KD. Can't believe some people are bitching about him donating only one million dollars. I wanna know who has donated more than he did. Just because he is rich, doesn't mean he needs to pour all his money out to help. Plus, we don't know if he already donated money to other chArities around the world. He probably has donated more money to charities than all of us combine in this forum.

[TheBigVeto]

Props.

He's the real deal unlike Kobe.

[UtahJazzFan88]

:facepalm

how can you look at it this way? should he not have given 1M? I'm sure they need the money

His post was 100% sarcasm.

[TylerOO]

Did it for the good publicity. Before this, what was the last thing we heard about Durant? Him choking in the playoffs. We won't be hearing about that much anymore now

[ALBballer]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.

Not exactly it could be limited to 50%. And if it is tax deductible, it's not like he's getting a dollar for dollar tax deduction, he will be getting back 40% of it back at most.

[deja vu]

It's all an act. "Fake humble guy", "Fake nice guy", etc. What a f**king douche. Donating $1M just to keep up his bullshit "good guy" act.
:biggums:
:coleman:

[deja vu]

You guys can't even donate a hundred bucks and now you're saying that $1 million ain't enough. :roll:

[bluechox2]

durant didnt donate anything, his cash is safe in the bank

his charity donated

[maybeshewill13]

:biggums:
:coleman:
Sarcasm.

[MetsPackers]

Only on ISH would people defend Harden for giving some dumb golddigging hoe $50,000 in one night, and then bash Durant for donating "only" one million dollars to OKC relief. :facepalm :facepalm

[piusbovis]

People seem to be mistaking tax credits for tax deductions. Say you make $100,000 and get taxed 30%. A tax credit directly reduces your taxes so a $20k tax credit would mean that your $30k in taxes at the end of the year would be reduced to $10k; a tax deduction reduces the net income you are taxed on. So if you have $20k in tax deductions at the end of the year that doesn't mean you pay $10k instead of $30k, it means that you are taxed for having made $80k instead of $100k. The result would be paying $24k in taxes.

Regardless why don't you cynics keep it to yourself. I'm from Moore and I can tell you that we need every damn dollar we can get regardless of why he did it. This is far worse than the 1999 tornado and the area is going to take years to recover.

[Leftimage]

People seem to be mistaking tax credits for tax deductions. Say you make $100,000 and get taxed 30%. A tax credit directly reduces your taxes so a $20k tax credit would mean that your $30k in taxes at the end of the year would be reduced to $10k; a tax deduction reduces the net income you are taxed on. So if you have $20k in tax deductions at the end of the year that doesn't mean you pay $10k instead of $30k, it means that you are taxed for having made $80k instead of $100k. The result would be paying $24k in taxes.

Regardless why don't you cynics keep it to yourself. I'm from Moore and I can tell you that we need every damn dollar we can get regardless of why he did it. This is far worse than the 1999 tornado and the area is going to take years to recover.

I'd like to cut into that cynicism a little more, by pointing out that donating anonymously is not ''classier'' per se, and that by putting his name on the donation he is compelling other players /stars/ rich people to step up to the plate. It's the better choice out of the two, as far as fundraising 'techniques' goes.

Great gesture by Durant, and it's puzzling to see people minimizing/criticizing it. I guess basketball rivalries can run pretty deep on here...

[JohnnyA]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.

I don't think you quite understand how a tax deduction works. Here's a simple example:

If you earn 15 million and are taxed at a rate of 50% then you pay 7.5 million in taxes.

If you then donate 1 million, that 1 million is deducted from your income for the year when calculating taxes. In other words you pay 50% of (15-1) million = 7 million.

You donated 1 million and saved 500 thousand on your tax bill, so you are still out of pocket by $500,000.

Obviously as with any tax matter a real example will be much more complicated but thats the gist of it which you can verify on any number of websites.

[LJJ]

I don't think you quite understand how a tax deduction works. Here's a simple example:

If you earn 15 million and are taxed at a rate of 50% then you pay 7.5 million in taxes.

If you then donate 1 million, that 1 million is deducted from your income for the year when calculating taxes. In other words you pay 50% of (15-1) million = 7 million.

You donated 1 million and saved 500 thousand on your tax bill, so you are still out of pocket by $500,000.

Obviously as with any tax matter a real example will be much more complicated but thats the gist of it which you can verify on any number of websites.

I used the confusing phrasing in an effort to keep it simple (I failed obviously, especially for the fools who immediately start screaming "OMG You are a smart little 10 year old aren't you, you don't know anything about money LOL LOL", while not learning a single thing and getting raped on their own tax return every year), but the latter part of my post is key, the "he didn't spend any money part". The thing is, for Durant this donation results in a much higher de facto tax deduction for Durant than the face value of the donation.

If Durant's accountant has any sense at all this donation runs through Durant's personal charity foundation. The more money Durant spends on charity with his foundation, the more of his personal finances he can route through his foundation., which is a net positive for him overall, because he doesn't have to pay income taxes on anything he can place in his foundation. So he spends $1 million on charity, but he actually lowers the taxes he has to pay overall by more than $1 million.

This is the reason why anytime an NBA player makes any charitable donation, it goes through their personal foundation. This is the reason why every single NBA player has a foundation.

[Vertical-24]

Not a big fan of the Stickman, but you have to give props where props is due. Can't hate on someone doing something positive :cheers:

[Crafty]

Not a big fan of the Stickman, but you have to give props where props is do. Can't hate on someone doing something positive :cheers:
Yes, more players should be doing the same

[BuffaloBill]

Sometimes it's ok to do the right thing in a public way, and then accept credit for it. It's called being a role model.

His money will help just as much as if he would have donated it anon.



I agree. Maybe this will lead a lot of others donating to the tornado relief.


On top of that he seemed really sincere in the interview.

[Just2McFly]

Props to Durant but I dont understand why he's the one donating big bucks. Where are truly weathly people in all of this? Athletes get villified if they don't give back but the people who sign their checks aren't pressured to do shit.

[bmd]

Pretty respectable for Durant to give $1 million. Seems like that is what entire companies are doing. My dad's company, ConocoPhillips, donated $1 million. Durant put that up himself.

[KG215]

Props to Durant but I dont understand why he's the one donating big bucks. Where are truly weathly people in all of this? Athletes get villified if they don't give back but the people who sign their checks aren't pressured to do shit.
The OKC team/organization also donated $1M.

[tomtucker]

Pretty respectable for Durant to give $1 million. Seems like that is what entire companies are doing. My dad's company, ConocoPhillips, donated $1 million. Durant put that up himself.



:biggums:




ConocoPhillips


Industry Oil and gas
Predecessor(s) Conoco Inc.
Phillips Petroleum Company
Founded August 30, 2002[1]
Headquarters Houston Energy Corridor,
Houston, Texas, U.S.
Area served Worldwide
Key people Ryan Lance
(Chairman & CEO)
Products Oil, natural gas, petroleum, lubricant, petrochemical
Revenue US$ 62.004 billion (2012)[2]
Operating income US$ 15.423 billion (2012)[2]
Net income US$ 8.428 billion (2012)[2]
Total assets US$ 117.144 billion (2012)[2]
:biggums:

[StocktonFan]

:biggums:




ConocoPhillips


Industry Oil and gas
Predecessor(s) Conoco Inc.
Phillips Petroleum Company
Founded August 30, 2002[1]
Headquarters Houston Energy Corridor,
Houston, Texas, U.S.
Area served Worldwide
Key people Ryan Lance
(Chairman & CEO)
Products Oil, natural gas, petroleum, lubricant, petrochemical
Revenue US$ 62.004 billion (2012)[2]
Operating income US$ 15.423 billion (2012)[2]
Net income US$ 8.428 billion (2012)[2]
Total assets US$ 117.144 billion (2012)[2]
:biggums:

who cares who donated how much, as long as those capable of giving are doing so.

Durant pledged money, Kobe pledged and started a campaign, lebron did what?

[ralph_i_el]

Cool.

I mean. It's tax deductible for the full amount so Durant didn't actually spend any money, but still pretty cool.

probably only ~40% deductible I think it's to the % you pay in income taxes

[BuffaloBill]

:biggums:




ConocoPhillips


Industry Oil and gas
Predecessor(s) Conoco Inc.
Phillips Petroleum Company
Founded August 30, 2002[1]
Headquarters Houston Energy Corridor,
Houston, Texas, U.S.
Area served Worldwide
Key people Ryan Lance
(Chairman & CEO)
Products Oil, natural gas, petroleum, lubricant, petrochemical
Revenue US$ 62.004 billion (2012)[2]
Operating income US$ 15.423 billion (2012)[2]
Net income US$ 8.428 billion (2012)[2]
Total assets US$ 117.144 billion (2012)[2]
:biggums:



They didn't have to donate shit. I bet the people of Oklahoma are grateful and will accept any donation. 1 million dollars is still a lot of money.

[JMT]

durant didnt donate anything, his cash is safe in the bank

his charity donated


His charity generates their money by having car washes and bake sales, right?

Exactly where do you think the money to establish the foundation came from?

Don't know which is more disturbing: the dooshes who attempt to diminish a wonderful act of generosity, or those who shoot their mouths off about tax/finance/charities and have no clue whatsoever.

[Andrew Wiggins]

I used the confusing phrasing in an effort to keep it simple (I failed obviously, especially for the fools who immediately start screaming "OMG You are a smart little 10 year old aren't you, you don't know anything about money LOL LOL", while not learning a single thing and getting raped on their own tax return every year), but the latter part of my post is key, the "he didn't spend any money part". The thing is, for Durant this donation results in a much higher de facto tax deduction for Durant than the face value of the donation.

If Durant's accountant has any sense at all this donation runs through Durant's personal charity foundation. The more money Durant spends on charity with his foundation, the more of his personal finances he can route through his foundation., which is a net positive for him overall, because he doesn't have to pay income taxes on anything he can place in his foundation. So he spends $1 million on charity, but he actually lowers the taxes he has to pay overall by more than $1 million.

This is the reason why anytime an NBA player makes any charitable donation, it goes through their personal foundation. This is the reason why every single NBA player has a foundation.


nah, you used confusing phrasing because you were confused and uneducated about the point you tried to make and now you're trying to pass it off as if that's what you meant all along

lmao

[Just2McFly]

The OKC team/organization also donated $1M.
Nice. That's probably 1/15th of what they made during the playoffs.:bowdown:

In the end I am glad that money is being donated, just hate the double standard placed on entertainers.

[insomniac]

LOL @ kids thinking you "get back" tax deductions.

Motherfarking taxes, how do they work?!?! Get a job and find out, kids.