Did you know that if you itemize deductions you can deduct contributions to many charitable organizations, up to 50% of your gross income?
Make sure your donations and contributions are to an IRS approved public charity HERE:
In general, an individual who itemizes deductions may deduct contributions to most charitable organizations up to 50% of his or her adjusted gross income computed without regard to net operating loss carrybacks. Individuals generally may deduct charitable contributions to other organizations up to 30% of their adjusted gross income (computed without regard to net operating loss carrybacks). These limitations (and organizational status) are indicated as follows:
|Code||Type of organization and use of contribution.||Deductibility Limitation|
|PC||A public charity.||50%|