Charitable Contributions


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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.
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People should consider making extra charitable contributions as 2017 winds down, to take advantage of the deductions still in place for this tax cycle, according to reporting by both Forbes and The Washington Post.
Drop in giving feared in 2018
Internal Revenue Code (IRC) section 170(a)(1) allows taxpayers to deduct charitable contributions, but federal income tax deductions--including the charitable contribution deduction--are a matter of "legislative grace.
Deducting noncash charitable contributions: documentation and substantiation requirements
For regular tax purposes, the $50,000 of current-year charitable contributions is first applied, with $50,000 of the prior-year carryover then applied.
ATNOLs and charitable contribution carryovers: which takes precedence?
TIGTA then extrapolated from the samples to estimate the potential extent and revenue cost of unsubstantiated noncash charitable contributions for all taxpayers for 2010.
TIGTA: noncash charitable contribution claims still often erroneous
However, in 2010, charitable contributions were an estimated $290.
Contributions back up following recession's plummet
Total charitable contributions to American colleges and universities in 2007: 29.
Changes at American universities
The PPA has a "charitable rollover provision" which offers taxpayers who are 70 1/2 or older the opportunity to make charitable contributions directly from their IRA accounts without realizing income.
Year-end tax tips: planning can mean money in your pocket
This change lowers their tax liability and the charitable contributions lower the account value, which in turn reduces future required minimum distributions.
Decoding new pension law's impact on charitable giving
Charitable contributions served to indicate community support and could therefore encourage government funding.
Give and take
Their required minimum distributions (RMDs) are taxed anyway, so a QCD may substitute for some other charitable contribution they would otherwise make.
Charitable distributions: Pension Protection Act may bring windfall to nonprofits
The council's Committee on Rules, Elections and Intergovernmental Relations endorsed a requirement that lobbyists disclose, in quarterly reports, any charitable contributions of $1,000 or more made at the request of an elected official.
BRIEFLY COUNCIL HOPEFULS PLAN TWO FORUMS
The Division of Ratepayer Advocate (Ratepayer Advocate) appeals from the part of a final decision of BPU, which allowed respondent New Jersey-American Water Company (American Water) to include fifty percent of its charitable contributions in the operating expenses used to determine the rates it charges customers for service.
Water rate legalities. (Legal aspects)

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