Forfeited deposit = Charitable donation?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Re: Forfeited deposit = Charitable donation?

Postby motiontodismiss » Mon Nov 08, 2010 5:13 am

Nightrunner wrote:
Allitigator wrote:
bilbobaggins wrote:Threads like this one are why people hate talking to lawyers and CPAs at parties.

If people hate talking to lawyers and CPAs at parties, then why do they do it? This thread is interesting a ridiculous attempt to put a square peg into a round hole, and then rationalize it away.

Isn't that pretty much what the practice of law is?

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Re: Forfeited deposit = Charitable donation?

Postby reasonable_man » Mon Nov 08, 2010 9:44 am

I think Kohinor mentioned it earlier, but as a practicing lawyer (who knows next to nothing about tax), but a good amount about, well, law stuff, I gotta say, this is an awful fucking idea.

Why on Good God's green earth would you risk sending up a red flag on your C&F statement to get a tax credit on a $750 seat deposit? This doesn’t make you cheap, it makes you a complete idiot.

C&F reviewers get off on busting bar applicants' balls over stupid things in their past. Most of the time, its just that, busting your balls (i.e. past alcohol bull shit, tickets, possession of a third of nickel bag of pot, etc). But every once in a while, some idiot comes along who, during the LS admission, process does something insanely stupid that demonstrates "moral turpitude," i.e. dishonesty. These stupid things include, creating irregularities on their taxes, failing to disclose minor past offenses during the LS admission process and/or any other offense that shows a lack of honesty. These types of offenses are about the only thing (save serious misdemeanors and any felony convictions), that will hurt your chances at being admitted to the bar. C&F reviewers are not tax experts; they are regular administrators and lawyers. Why give them the chance to question your honesty over a $750 tax credit? In the grand scheme of spending over 100k on an education, is that $750 credit actually worth the potential down-side?

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