Proposed Deduction Limits on Charitable Contributions
June 19, 2009
The Obama administration has proposed limiting at 28 percent the itemized deduction for charitable contributions (and some other items) for higher income individuals to help fund health care reform. The change would impact individuals earning $200,000 or more and married couples with incomes above $250,000 and would be effective for tax years beginning after December 31, 2009. The administration projects the provision would generate $266.6 billion over 10 years.
What do you think about this proposal? Will it affect the amount of your charitable contributions if passed?
hi
this grate information for tax deduction ,
I thinks if give charity for children your income tax are some save which recite by government policy.
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