I've met a few people who genuinely believe that 'tax deductible' equates to 'essentially spending nothing' or somehow equate that the amount you donate would be an amount you would otherwise give to the Government in taxes so from your perspective it doesn't change anything.
This is definitely not the case. If you make $100 profit and you would have had to pay 20% corporate tax, then you pay $20 in taxes, you'd be left with $80 to buy chocolate or whatever you want.
If you donate $20 and deduct it from your profit, then your profit is now calculated at $80. So you pay $16 in taxes. So you saved $4 but spent $20, so you're $16 dollars down and now you only have $64 for chocolate, so not 'essentially nothing'.
This is definitely not the case. If you make $100 profit and you would have had to pay 20% corporate tax, then you pay $20 in taxes, you'd be left with $80 to buy chocolate or whatever you want.
If you donate $20 and deduct it from your profit, then your profit is now calculated at $80. So you pay $16 in taxes. So you saved $4 but spent $20, so you're $16 dollars down and now you only have $64 for chocolate, so not 'essentially nothing'.