Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-22-2009, 10:12 AM
Junior Member
 
Join Date: Mar 2009
Posts: 2
Maximum/Minium Contribution

Is there a maximum charitable tax contribution limit?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-22-2009, 02:16 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
There is no maximum charitable contribution limit as such, but, the amount that a taxpayer is allowed to deduct on their individual tax return is limited to 50% of the taxpayers adjusted gross income. Any amounts that exceed this limit are then carried over to future years where again the taxpayer would be subject to the same 50% of the taxpayers adjusted gross income limitation rules.

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What is the maximum Social Security retirement benefit? TaxGuru Social Security 0 08-05-2008 04:26 PM
What is the maximum amount a taxpayer can deduct as student loan interest? vanngo Miscellaneous 1 12-07-2007 01:30 AM
What is the maximum amount a Taxpayer can deduct in 2007 for purchasing a new SUV? Adam Auto Expenses 1 12-07-2007 12:54 AM
What is the maximum amount of Gifts that I can give annually to my kids free of tax? JimiGood Estate Planning 0 08-23-2007 08:48 AM
What are the maximum wages subject to Social Security Taxes (FICA) in 2007? bookkeeping Miscellaneous 1 06-30-2007 01:36 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.