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Cake day: July 3rd, 2023

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  • As mentioned in other comments - the tax deduction thing is not true. It is true, however, that they can '‘donate’ the funds to a charitable foundation that is run by the same people as the company (i.e. they are on the board of the charity as well as being C-suite execs of the company) thereby creating a slush fund disguised as charity that may only need to actually use 5% for charitable activities.