Charitable Contributions


Also found in: Legal, Wikipedia.

Charitable Contributions

Money or property donated to a qualified charitable organization. Such donations are deductible, subject to income limits, on Schedule A as itemized deductions.
References in periodicals archive ?
A CRT allows the donor to take advantage of the tax benefits of charitable contributions while retaining the property's current benefits.
2 Million) - Allstate launched its annual charitable contributions campaign early this year to provide its 70,000 employees, agents and agency staff the opportunity to help the victims of Hurricane Katrina.
Powell then sued the IRS, claiming it was administratively inconsistent in the way it applied the charitable contribution rules.
For discussion of these new guidelines, see "The Deductibility of Charitable Contributions After Rev.
It is updated to reflect certain tax law changes under the American Jobs Creation Act of 2004 (AJCA), including the revised threshold for substantial understatements for corporations under AJCA Section 819 and charitable contributions of a qualified vehicle, boat or airplane worth more than $500.
As noted in the following paragraphs, a common issue with charitable contributions is whether the taxpayer received some benefit in return.
The company's charitable contributions program provides cash grants, in-kind contributions, and volunteers for community-based nonprofit organizations, and for schools and other governmental programs throughout northern and central California.
Additionally, tax law and the courts recognize that charitable contributions must be made from a "detached and disinterested generosity" or "out of affection, admiration, charity or like impulses.
Department of the Treasury and the Internal Revenue Service concerning proposed regulations under section 861 of the Internal Revenue Code on the allocation and apportionment of charitable contributions.
526, Charitable Contributions, contain no requirement for an actual transfer of a deed.