Charity and tax deductions

Discussion in 'Economics' started by Here4money, Dec 24, 2017.

  1. So was reading in article it would be beneficial to maximize my charitable donations this year before year's end. I'm not entirely sure how it helps tax-wise. Anyone care to chime in?
     
  2. sle

    sle

    This assumes that you are planning to give money away in the first place, I think.

    BTW, charitable donations are only deductible up to 50% of the AGI if that matters (some of us found out the hard way)
     
    Last edited: Dec 24, 2017
  3. Of course ;-). I might as well burn my money than give it to this administration. Just trying to figure out how giving to charity may help minimize my own tax burden.