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Re: Donations VS currency exchange rates



At 08:12 AM 3/18/2005 -0500, Luc Leblanc VE2DWE wrote:
****snip
>Yes but in the present launch outcome P3E is the one to contribute. 
>As soon as P3E will be up and running contribute to Eagle.
>
>For the tax incentive i don't know how much a 100$ donation can 
>return back in US but is this is making a real incentive? For the 
>rest of the world there is no deduction available "i think" and any 
>donations is a direct withdrawal from the pocket.
>
>The problem the currency exchanges rates. if i want to donate in CND$ 
>i have to suffer a 26% rate penalty in regard of the US$. 
>
>Could be there is a way to make the most of our donations without 
>loosing a part of it due to money exchange rates?
>
>IRC'S seems to have a more stable value in regards of stamps value. 
>As many AMSAT'S have postal fees could be there is a way to donate 
>via IRC'S?
>
>Any ideas here?

Luc and others outside USA:

For US taxpayers, charitible contributions reduce your taxable income so
the benefit is what ever amount you give times the tax percentage bracket
you are in.  Example:  you contribute $100 and your income tax bracket is
20% of adjusted gross income.  You save = 100 x .20 = $20.

The other problem you mention: contributing in $Can.  I have found that the
easiest way to take care of this is by use of a credit card like VISA or
MC.  The major credit card companies will do the conversion automatically
to the denomination of the country where the purchase is made.  The card
holder does not need to do anything.  I do not believe there is a service
charge for this.  The inequity of currency conversion between countries is
nothing that anyone can cure, sorry!

When my wife and I traveled from the lower-48 states up to Alaska last
spring thru Canada this is how we made the majority of our purchases.
There was no service charge added for this.  It eliminated having to
convert large sums of cash to $Can and any unused funds back $USD once we
arrived in AK.  We did convert some cash for incidental purchases where a
credit card would be inconvenient or not accepted.

I am not sure that the credit card companies will do this for all countries
of the world, but surely no problem for Canada and Germany.

73's Ed - AL7EB
----
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