I’m a big fan of both EA and FIRE, so this is awesome!
One way the tool could be improved is by allowing to adjust for-tax deductibility of donations. I’m not quite sure how the calculator would be adjusted, but the relevant metrics seem to be.
Maximum % of net/gross income that is tax-deductible if donated
% of donations that are tax-deducible
The distinction between if it applies to net or gross income might be necessary, because countries differ to the specification of tax-deductibility of donations.
Thanks for this. I agree that a tool like this would be extremely helpful, but frankly, extremely challenging to build. There are so many scenarios that would influence deductibility in any given year, let alone over time. And the calculator begins with entering an assumed income after taxes. Even if I were to include a line item that says % of donations that are tax-deductible, having the user accurately calculate or predict that on their own would be extremely challenging. It would also impact their income and expenses. With that said, I am also interested in these types of insights as I think they would be incredibly powerful—but just much harder to “productize” into one tool.
I’m a big fan of both EA and FIRE, so this is awesome!
One way the tool could be improved is by allowing to adjust for-tax deductibility of donations.
I’m not quite sure how the calculator would be adjusted, but the relevant metrics seem to be.
Maximum % of net/gross income that is tax-deductible if donated
% of donations that are tax-deducible
The distinction between if it applies to net or gross income might be necessary, because countries differ to the specification of tax-deductibility of donations.
Thanks for this. I agree that a tool like this would be extremely helpful, but frankly, extremely challenging to build. There are so many scenarios that would influence deductibility in any given year, let alone over time. And the calculator begins with entering an assumed income after taxes. Even if I were to include a line item that says % of donations that are tax-deductible, having the user accurately calculate or predict that on their own would be extremely challenging. It would also impact their income and expenses. With that said, I am also interested in these types of insights as I think they would be incredibly powerful—but just much harder to “productize” into one tool.