Charitable donations aren't just a generous act; they can also be a effective way to reduce your tax burden. By donating to eligible organizations, you can claim refunds on your federal returns, potentially lowering a significant amount of money. To optimize your tax benefits from charitable giving

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A thirty% AGI ceiling also applies to non-funds gifts of money gain property held for your year or for a longer period. usually, deductible contributions that exceed a calendar year’s AGI ceiling, can be carried ahead for the following five years, issue to applicable AGI boundaries from the yr claim