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Doing Well By Doing Good: Charity And Taxes In North Alabama - Huntsville Business Journal

Summary by Huntsville Business Journal
The winter holiday season has always been a time for communities and individuals to come together and aid those most in need.  Not only is charitable giving a benefit in and of itself, but charitable donations to exempt organizations can also lower the taxable income for your household. Federal tax deductions are generally capped at 60% of adjusted gross income prior to deductions, but some organizations, such as veterans’ groups, have that capp…
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