Allowable charity donations deductions? is there a limit? Is the 75% of their income can be deducted by donations still holds?
That could be said about oh so many of the questions that get asked here.
3 Likes
Iām sorry that none of the preceding comments have been helpful. Your guess is correct. The maximum allowable claim for donations is 75% of income. However, you may not need to use that much to reduce your income tax to $0. Keep in mind that any unused donations can be carried forward up to 5 years.
1 Like