Charitable work can play into taxes

摘要

HERE are some tax considerations related to charitable contributions. The charitable deduction limit goes from 30% of adjusted gross income to 50% of adjusted gross income for qualified conservation contributions, provided that the contribution does not prevent the use of the donated land for farming or ranching purposes. The charitable deduction is raised to 100% of adjusted gross income for eligible farmers. It allows you to carry forward the deduction for 15 years, provided you were a farmer in the year of the carryforward.