Tactical has really gotten complicated. You really need an expert to try to figure some of these things out. Luck leave got me. I'm Kristen Brand and today I'm going to talk to you about how to determine the limits on tax deductions for charitable contributions. There are several thresholds that you'll need to understand when you take a look at this. The first place you want to look is at the bottom of page one of your 1040 to determine your adjustable gross income or your AGI. There are different percentages of your AGI that are deductible. Typically, if you donate less than twenty percent of your AGI, you'll be able to take that deduction. You cannot actually donate more than fifty percent of your AGI and use that to your benefit for taxes. If you're trying to navigate the waters between the twenty and fifty percent, you'll probably need to consult your local CPA or do some research on your own online with IRS gov. It's really a little bit more complicated than just a few minutes can tell you, so I suggest consulting an expert. Again, I'm Kristen Brand, and that is how to determine the limits on charitable giving.
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Video instructions and help with filling out and completing Will Form 1120 C Charities
