Giving back to your community can also give you a financial boost. By making charitable contributions, you could be eligible for a tax deduction that may substantially reduce your overall tax liability. To enhance your tax refund through charitable giving, research these tips: * Contribute to registered charities to ensure your contribution is tax
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If you intend to claim itemized deductions for charitable contributions on your tax return, the deduction limit has reverted back to your highest of 60% of the AGI. As noted higher than, the exact percentage it is possible to assert is motivated by the kind of contribution. specific corporations with Canadian addresses detailed might be foreign bu