Charitable Contributions (For the 2018 Tax Year)


Limit for charitable contributions is modified.

The limit on the deduction for charitable contributions of cash has increased from 50 percent to 60 percent of a taxpayer’s adjusted gross income. This means that some taxpayers who make large donations to charity may be able to deduct more of what they give this year.

FOR BUSINESS: A charitable donation deduction is available to businesses, but the actual amount deductible depends on the business form. A corporation is allowed a deduction of up to 10% of its taxable income; whereas, a pass-through entity is subject to an individual's limitations.

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