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Once they have established eligibility for matching payments, presidential candidates may receive public funds to match contributions from individual contributors, up to $250 per individual. Contributions from political committees are not eligible for matching funds. Cash contributions are also ineligible, as their origins cannot be tracked.
If a donor is contributing property that would have yielded a long-term capital gain in a sale, then the deduction for the contribution is limited to 30% of donor's adjusted gross income in the year of donation if the donee is a public charity, and limited to 20% if the donee is a private foundation. Contributions over the respective AGI ...
Every organization, including a 501(c)(5) organization, that expressly advocates for the election or defeat of a particular political candidate and spends more than $250 during a calendar year must disclose the name of each person who contributed more than $200 during the calendar year to the Federal Election Commission.
If you have an eligible high-deductible health insurance plan, you can make pre-tax contributions into an HSA and use the money to pay medical expenses incurred before you reach the deductible ...
Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. Married, filing jointly: $25,900 for 2022, $27,700 for 2023.
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For example, a candidate who won an election to the U.S. House of Representatives in 1990 spent on average $407,600 (equivalent to $950,000 in 2023), [1] while the winner in 2022 spent on average $2.79 million; in the Senate, average spending for winning candidates went from $3.87 million (equivalent to $9.03 million in 2023) to $26.53 million.
The deduction is reduced for single or head-of-household filers making between $70,000 and $85,000 or between $145,000 and $175,000 for joint filers. Married people who file separately are not ...