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  2. Charity Donation Tax Deductions: What You Can and Can’t Claim

    www.aol.com/charity-donation-tax-deductions-t...

    Itemize your deductions using Form 1040 ... the maximum amount you can deduct on your taxes is 60% of your adjusted gross income. ... you made charitable donations for tax deductions. For ...

  3. Itemized deduction - Wikipedia

    en.wikipedia.org/wiki/Itemized_deduction

    Charitable contributions to allowable recipients; this deduction is limited to 30%-60% of AGI, depending on the characterization of the recipient. Donations can be money or goods but the value of donated services provided cannot be deducted.

  4. Charitable contribution deductions in the United States

    en.wikipedia.org/wiki/Charitable_contribution...

    To determine the amount that she may deduct as a charitable contribution, Abby must subtract the ordinary gain inherent in the inventory (the $200,000) from the inventory's fair market value (the $600,000). Thus, the amount of Abby's gift is $400,000 (fmv of $600,000 minus inventory's inherent ordinary gain of $200,000).

  5. Tax bracket - Wikipedia

    en.wikipedia.org/wiki/Tax_bracket

    Itemized deductions are other specific deductions such as; mortgage interest on a home, state income taxes or sales taxes, local property taxes, charitable contributions, state income tax withheld, etc. Standard deduction is a sort of minimum itemized deduction. If all itemized deductions are added up and it is less than the standard deduction ...

  6. Income tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_the_United...

    The rate of tax at the federal level is graduated; that is, the tax rates on higher amounts of income are higher than on lower amounts. Federal individual tax rates vary from 10% to 37%. [8] Some states and localities impose an income tax at a graduated rate, and some at a flat rate on all taxable income. [9]

  7. State income tax - Wikipedia

    en.wikipedia.org/wiki/State_income_tax

    Income is reported on a tax form issued by the ... $102,324.86 + 13.30% of the amount over $1,000,000 California's listed tax brackets from 1%-12.3% are indexed ...

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