Business Donation Tax Deduction Canada

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  business donation tax deduction canada: Individual retirement arrangements (IRAs) United States. Internal Revenue Service, 1990
  business donation tax deduction canada: Charity and Giving Justin Healey, 2021 As a nation, Australians can be a generous people. The massive fundraising response to the bushfires last summer is a case in point. In addition to direct financial giving, many Australians donate goods to charities and not-for-profits, volunteer their time, become involved with fundraising for a specific charity, or advocate and raise awareness for a cause or unmet need. In Australia there are over 50,000 registered charities which make up a diverse sector working across a broad range of areas, including health, education, social welfare, religion, culture, human rights, the environment and animal welfare. How do you choose the right charity to match a righteous cause, so that your donation really does count? Why do people give, and how can it be done responsibly and effectively? What is philanthropy ¿ could wealthier Australians do more to support the not-forprofit sector? This book explains the latest trends in giving and explores the ethics and effectiveness of legitimate charities. In a time of great need, what can we do to make a positive difference?
  business donation tax deduction canada: Medical and Dental Expenses , 1990
  business donation tax deduction canada: The Life You Can Save Peter Singer, 2010 Argues that for the first time in history we're in a position to end extreme poverty throughout the world, both because of our unprecedented wealth and advances in technology, therefore we can no longer consider ourselves good people unless we give more to the poor. Reprint.
  business donation tax deduction canada: White Paper on Tax Reform CCH Canadian Limited, 1987 The 1987 tax reform package considered.
  business donation tax deduction canada: U.S. Tax Guide for Aliens , 1998
  business donation tax deduction canada: Drawdown Paul Hawken, 2017-04-18 • New York Times bestseller • The 100 most substantive solutions to reverse global warming, based on meticulous research by leading scientists and policymakers around the world “At this point in time, the Drawdown book is exactly what is needed; a credible, conservative solution-by-solution narrative that we can do it. Reading it is an effective inoculation against the widespread perception of doom that humanity cannot and will not solve the climate crisis. Reported by-effects include increased determination and a sense of grounded hope.” —Per Espen Stoknes, Author, What We Think About When We Try Not To Think About Global Warming “There’s been no real way for ordinary people to get an understanding of what they can do and what impact it can have. There remains no single, comprehensive, reliable compendium of carbon-reduction solutions across sectors. At least until now. . . . The public is hungry for this kind of practical wisdom.” —David Roberts, Vox “This is the ideal environmental sciences textbook—only it is too interesting and inspiring to be called a textbook.” —Peter Kareiva, Director of the Institute of the Environment and Sustainability, UCLA In the face of widespread fear and apathy, an international coalition of researchers, professionals, and scientists have come together to offer a set of realistic and bold solutions to climate change. One hundred techniques and practices are described here—some are well known; some you may have never heard of. They range from clean energy to educating girls in lower-income countries to land use practices that pull carbon out of the air. The solutions exist, are economically viable, and communities throughout the world are currently enacting them with skill and determination. If deployed collectively on a global scale over the next thirty years, they represent a credible path forward, not just to slow the earth’s warming but to reach drawdown, that point in time when greenhouse gases in the atmosphere peak and begin to decline. These measures promise cascading benefits to human health, security, prosperity, and well-being—giving us every reason to see this planetary crisis as an opportunity to create a just and livable world.
  business donation tax deduction canada: Pristine Seas Enric Sala, Leonardo DiCaprio, 2015 National Geographic Explorer-in-Residence Enric Sala takes readers on an unforgettable journey to 10 places where the ocean is virtually untouched by man, offering a fascinating glimpse into our past and an inspiring vision for the future. From the shark-rich waters surrounding Coco Island, Costa Rica, to the iceberg-studded sea off Franz Josef Land, Russia, this incredible photographic collection showcases the thriving marine ecosystems that Sala is working to protect. Offering a rare glimpse into the world's underwater Edens, more than 200 images take you to the frontier of the Pristine Seas expeditions, where Sala's teams explore the breathtaking wildlife and habitats from the depths to the surface--thriving ecosystems with healthy corals and a kaleidoscopic variety of colorful fish and stunning creatures that have been protected from human interference. With this dazzling array of photographs that capture the beauty of the water and the incredible wildlife within it, this book shows us the brilliance of the sea in its natural state.--
  business donation tax deduction canada: The Law of Charitable and Not-for-profit Organizations Donald J. Bourgeois, 2016
  business donation tax deduction canada: Small Business Tax Facts Ronika Khanna, Starting a business or becoming self employed opens up a whole new world of tax considerations. This book will guide you through the fundamentals to ensure that you pay the taxes you need to but no more than that. In learning about the different types of tax and the sorts of deductions that businesses are entitled to you can have a better understanding of your small business tax and save time and money. Our tax companion: Makes sure you don’t miss any deductions by providing a comprehensive list of expenses that you as a small business or self employed owner claim, and explains them in detail with easy to follow examples Explains simply the key basic tax concepts that every taxpayer should know Provides details on how to do your accounting and what you need before preparing your tax return Takes you step by step through the process of completing the T2125 business tax return schedule along with examples Explores the more complex sections such as capital cost allowance, motor vehicle/car and home office expenses Takes you through the process of understanding and completing your GST/HST returns plus a special appendix on provincial sales taxes Discusses eligibility of common expenses that are less straightforward
  business donation tax deduction canada: Charitable Giving and Tax Policy Gabrielle Fack, Camille Landais, 2016 A comparative and historical analysis of tax policies towards charitable giving in different countries that considers whether public policies actually boost private philanthropy.
  business donation tax deduction canada: Charities Taxation, Policy and Practice Arthur B. C. Drache, 2007
  business donation tax deduction canada: Philanthropic Foundations in Canada Peter R Elson, Sylvain A Lefèvre, Jean-Marc Fontan, 2020-05-11 This book is a turning point in the evolution of Canada's philanthropic landscape - a testament to new and ground-breaking knowledge that reflects a distinct Canadian foundation sector. Explore established and emerging landscapes, Indigenous perspectives on philanthropy and creative and innovative pathways to change.
  business donation tax deduction canada: Journalism Without Profit Magda Konieczna, 2018-06-21 The last decade has witnessed a dramatic decline in the presence and influence of legacy news organizations. This decline has led to tremendous growth in news startups, which have attempted to fill the gap left by their legacy counterparts by producing the quality public service journalism upon which the health of U.S. democracy depends. If legacy news organizations, with their existing infrastructure, are failing, can these startups do any better? This question lies at the heart of Journalism Without Profit. Magda Konieczna explores three prominent news nonprofits: the Center for Public Integrity, one of the oldest and largest of its kind; the Wisconsin Center for Investigative Journalism, a university-based watchdog news organization that relies on others to publish its work; and MinnPost, an online news website. Through in-depth study of the practices of each newsroom, Konieczna isolates one common behavior that will contribute to their success: the way these organizations collaborate and share stories. Though this emergent behavior differentiates news nonprofits from the mainstream journalism from which they arose, it also ties the two forms of journalism together, as news nonprofits attempt to share stories with mainstream publications. In other words, the very behavior that may enable these organizations to do better than their mainstream counterparts also limits their ability to evolve much beyond them. In one of the first major books to focus on nonprofit journalism, Konieczna investigates the major questions that will open the field up to further study. Where did nonprofit news come from, and where is it going? Who funds it, and why? Ultimately, Konieczna offers a new way to think about the seismic changes in journalism that are defining the 21st-century.
  business donation tax deduction canada: Ask a Manager Alison Green, 2018-05-01 From the creator of the popular website Ask a Manager and New York’s work-advice columnist comes a witty, practical guide to 200 difficult professional conversations—featuring all-new advice! There’s a reason Alison Green has been called “the Dear Abby of the work world.” Ten years as a workplace-advice columnist have taught her that people avoid awkward conversations in the office because they simply don’t know what to say. Thankfully, Green does—and in this incredibly helpful book, she tackles the tough discussions you may need to have during your career. You’ll learn what to say when • coworkers push their work on you—then take credit for it • you accidentally trash-talk someone in an email then hit “reply all” • you’re being micromanaged—or not being managed at all • you catch a colleague in a lie • your boss seems unhappy with your work • your cubemate’s loud speakerphone is making you homicidal • you got drunk at the holiday party Praise for Ask a Manager “A must-read for anyone who works . . . [Alison Green’s] advice boils down to the idea that you should be professional (even when others are not) and that communicating in a straightforward manner with candor and kindness will get you far, no matter where you work.”—Booklist (starred review) “The author’s friendly, warm, no-nonsense writing is a pleasure to read, and her advice can be widely applied to relationships in all areas of readers’ lives. Ideal for anyone new to the job market or new to management, or anyone hoping to improve their work experience.”—Library Journal (starred review) “I am a huge fan of Alison Green’s Ask a Manager column. This book is even better. It teaches us how to deal with many of the most vexing big and little problems in our workplaces—and to do so with grace, confidence, and a sense of humor.”—Robert Sutton, Stanford professor and author of The No Asshole Rule and The Asshole Survival Guide “Ask a Manager is the ultimate playbook for navigating the traditional workforce in a diplomatic but firm way.”—Erin Lowry, author of Broke Millennial: Stop Scraping By and Get Your Financial Life Together
  business donation tax deduction canada: Canada-U.S. Tax Treaty , 1981
  business donation tax deduction canada: CHARITIES LEGISLATION & COMMENTARY. TERRANCE S. CARTER, 2021
  business donation tax deduction canada: Charitable Giving and Taxation Hooker Craigmyle and Company Limited, 1968
  business donation tax deduction canada: Civil Code of Lower Canada Québec (Province), 1889
  business donation tax deduction canada: Information on the United States-Canada Income Tax Treaty United States. Internal Revenue Service, 1996
  business donation tax deduction canada: Between State and Market Kahanoff Foundation. Non-Profit Sector Research Initiative, 2001 Between State and Market surveys and critiques the existing literature on charities law as well as the laws themselves. The authors offer policy prescriptions for the future of an increasingly vital sector of Canadian society. The first section of the book contains an overview of the charitable sector in Canada, a sociological review of altruism in different societies, a discussion of altruism in various philosophical and religious traditions, an economic analysis of rational voluntarism, and an assessment of the relationship between the charitable sector and the welfare state. The second section contains five papers on the legal definition of charity, both general (the jurisprudence of the Federal Court of Appeal and a proposal for rethinking the concept of public benefit), and particular (the political purposes doctrine, religion as charity, and a commentary on the recent major Supreme Court decision on the meaning of charity). The third section deals with the tax status of charities: two papers evaluate the current tax credit system and one deals with the administration of charities by the Canada Customs and Revenue Agency. The final section contains essays on charities and commercial enterprise, on the regulation of fund-raising, and on needed reforms in non-profit corporation law. At a time when the federal government is about to embark on a wide range of policy initiatives to assist and regulate the non-profit sector, these essays are necessary reading for anyone concerned with the future of the charitable sector in Canada. Contributors include Neil Brooks (Osgoode Hall Law School), Cara Cameron (McGill), Bruce Chapman, Kevin Davis (Toronto), Abraham Drassinower (Toronto), David Duff (Toronto), Richard Janda (McGill), Will Kymlicka (Queen's), Andrée Lajoie (Montreal), Mayo Moran (Toronto), Charles-Maxime Panaccio (office of Mr Justice Charles Gonthier), Jim Phillips, Jane Allyn Piliavin (Wisconsin-Madison), David Sharpe (Attorney-General's Office, New York State), Lorne Sossin (Osgoode Hall Law School), David Stevens, and Jen-Chieh Ting (Academia Sinica). Jim Phillips is professor of law at the University of Toronto. Bruce Chapman is professor of law at the University of Toronto. David Stevens is professor of law at McGill University
  business donation tax deduction canada: Parking Cash Out , 1994
  business donation tax deduction canada: Self-employment Tax , 1988
  business donation tax deduction canada: 1040 Quickfinder Handbook Practitioners Publishing Co. Staff, 2005-12-01 Contains extensive coverage of the tax issues faced by all types of contractors, including large and small contractors, homebuilders, and other specialty trades, provides you with the clear, concise guidance you need to expertly address your tax issues.
  business donation tax deduction canada: The Law and Practice Relating to Charities Hubert Picarda, 2010 Thoroughly updated and revised to take account of the UK's new Charities Act 2006, this fourth edition of Law and Practice Relating to Charities covers the creation, administration, and marketing of UK charities. It provides an invaluable source of practical advice on the registration of new charities, appeals and fundraising, administration, jurisdiction, court proceedings, trading, taxation, and rating. The book considers the duties of charitable trustees and the updating of charitable trusts. It also explains the UK's new Charity Tribunal and Charitable Corporations (CIOs).
  business donation tax deduction canada: Canada Business Janet Whittle, 1997 An enclyclopedic view of doing business with Canada. Contains the how-to, where-to and who-with information needed to operate internationally.
  business donation tax deduction canada: Importing Into the United States U. S. Customs and Border Protection, 2015-10-12 Explains process of importing goods into the U.S., including informed compliance, invoices, duty assessments, classification and value, marking requirements, etc.
  business donation tax deduction canada: FastStart Your Corporation Ronika Khanna, 2021-11-05 Let FastStart Your Corporation guide you through all the essential steps of starting your Canadian business and help you with each decision along the way. Inside you'll discover: - Why you should incorporate - How to ensure that you are not considered an employee - What you need to know about the incorporation process - What you need to know about setting up your accounting - What to look for in an accountant - Should you and how to register for GST/HST - The best way to pay yourself from the corporation, how to hire and start paying employees - What you need to know about taking dividends and shareholder loans - The essential elements of corporate small business taxes. - How to start your corporation in Quebec And much more! Written for Canadian startups, independent contractors, freelancers and small businesses who are thinking about or have already incorporated, FastStart Your Corporation provides you with the knowledge that you need to start your business on a solid foundation.
  business donation tax deduction canada: Canadian Income Tax Act Canada, 19??
  business donation tax deduction canada: Income War Tax Act Canada, 1942
  business donation tax deduction canada: Advanced Management for Deans Terri Friel, 2016 Deanships in the world are often OTJ (On the job training) positions. Prior to this series, there was very little about this specific position and how to be innovative and successful on the job. This book is the second in the series of Management for Deans and includes advanced techniques employed by deans around the world to manage their boards, planning, donors, and careers. If you've been a dean or are considering this position, the series Management for Deans and Advanced Management for Deans will introduce you to the position and offer you many ideas from experienced deans around the world that can accelerate your success and help you avoid the pitfalls of OTJ.
  business donation tax deduction canada: Government of Canada Tax Expenditures , 1999
  business donation tax deduction canada: A Selection of ... Internal Revenue Service Tax Information Publications , 1991
  business donation tax deduction canada: Charitable Contributions , 1992
  business donation tax deduction canada: J.K. Lasser's 1001 Deductions and Tax Breaks 2024 Barbara Weltman, 2023-11-30 Save money—legally—on your 2023-24 taxes with simple, expert advice from a trusted source In the newest edition of J.K. Lasser’s 1001 Deductions and Tax Breaks 2024: Your Complete Guide to Everything Deductible, expert small business tax lawyer Barbara Weltman walks you through every relevant tax deduction and credit you’re entitled to claim on your 2023 tax return as well as new breaks for 2024. You’ll find countless money-saving opportunities and ensure you don’t overpay on your taxes, giving Uncle Sam exactly what you’re legally required to give him—and not a penny more! You’ll also find: A complimentary new e-supplement containing the latest developments from the Internal Revenue Service (IRS) and Congress Step-by-step instructions on how to claim every deduction that applies to you, complete with record-keeping requirements and dollar limits The latest tax rulings, laws, and cases that impact your 2023-24 tax return Perfect for every individual taxpayer who has ever wondered, “Can I claim X?”, J.K. Lasser’s 1001 Deductions and Tax Breaks is a straightforward and accurate roadmap to saving money on your taxes and simplifying the completion of your tax return.
  business donation tax deduction canada: J.K. Lasser's 1001 Deductions and Tax Breaks 2015 Barbara Weltman, 2014-10-27 The must-have guide to tax write-offs, with clear advice from a trusted expert J.K. Lasser's 1001 Deductions and Tax Breaks 2015 answers the most common tax question—what can I deduct? Updated and expanded for 2014 tax filing and 2015 tax planning, this straightforward guide uses plain English to explain the many available deductions and credits, allowing you to quickly recognize ways to reduce what you owe and maximize your returns. By stripping away all the rules and strategies that don't apply to the individual taxpayer, this book presents a clear, concise reference that can streamline the filing process. You'll find the qualification guidelines for each individual deduction or credit, plus expert instruction on how to actually take those deductions and credits that fit your particular situation. Every year, millions of Americans overpay their taxes by billions of dollars, collectively. Why? Because tax laws are confusing, and the threat of an audit makes taxpayers so afraid of errors that they fail to take even perfectly legal write-offs. 1001 Deductions and Tax Breaks puts a stop to the confusion and fear, providing trusted, expert guidance toward filing correctly, on time, without leaving money on the table. Learn how your family, your home, your car, and your job or business can lower your tax bill Factor in educational costs, medical expenses, travel, and entertainment Understand which items are nondeductible and which are tax-free Develop a strategy for handling savings, investments, interest, charitable giving, and more A topic as fundamental and universal as deductions and credits merits a clear, in-depth guide catering to the average individual taxpayer, without irrelevant information or chapter upon chapter of incomprehensible legalese. J.K. Lasser's 1001 Deductions and Tax Breaks 2015 is the guide you've been searching for, with clear, concise, practical instruction on paying what you owe, and not a cent more.
  business donation tax deduction canada: The Canadian Federal Election of 2008 Christopher Dornan, Jon H. Pammett, 2009-04-27 The Canadian Federal Election of 2008 is a comprehensive analysis of all aspects of the campaign and election outcome. The chapters are written by leading professors of political science, journalism, and communications. They examine the strategies, successes, and failures of the major political parties -- the Conservatives (Faron Ellis and Peter Woolstencroft), Liberals (Brooke Jeffrey), New Democrats (Lynda Erickson and David Laycock), Block Quebecois (Eric Belanger and Richard Nadeau), and Green Party (Susan Harada). Also featured in this comprehensive volume are chapters on the media coverage (Christopher Waddell) and the way Canada's party finance laws affected the campaign (Tom Flanagan and Harol J. Jansen). The book concludes with a detailed analysis of the voting behaviour of Canadians in 2008 by Harold D. Clarke, Allan Kornberg, and Thomas J. Scotto, and an overview of the long- and short-term forces influencing the future of Canadian electoral politics by Lawrence LeDuc and Jon H. Pammett. The introduction by Christopher Dornan discusses the post-election crisis, while the appendices include all of the election results.
  business donation tax deduction canada: International Master Tax Guide 2009/10 , 2009 This book is a concise foreign tax reference tool for the practitioner who needs quick answers to basic corporate and individual tax questions.
  business donation tax deduction canada: J.K. Lasser's 1001 Deductions and Tax Breaks 2021 Barbara Weltman, 2020-11-19 Claim tax deductions and credits with confidence using this complete list of tax relief opportunities It seems that every year your personal tax return gets more and more complicated. What can you claim? What can you deduct? J.K. Lasser's 1001 Deductions and Tax Breaks 2021 offers simple and step-by-step tips on the tax relief available to individual taxpayers just like you. You’ll discover how to take advantage – legally – of every available tax deduction and credit out there. Attorney, expert, and author Barbara Weltman walks you through every single credit and deduction available to you and shows you which forms you need to fill out to claim them. You'll learn: How to review your records for deduction and credit opportunities Keep the right records and receipts in case the IRS comes calling What types of income are tax free Which COVID-19-related tax breaks apply to you The difference between a deduction and a credit, and why it matters Whether you're filling out your first tax return ever or your fifty-first, J.K. Lasser's 1001 Deductions and Tax Breaks 2021 will show you easy ways to increase your tax refund and decrease your tax payable on you 2020 return and plan for additional tax savings in 2021.
  business donation tax deduction canada: Your Federal Income Tax for Individuals , 2009
Charitable donations through your corporation - RBC Wealth …
Corporate donation tax deduction. A corporation is entitled to a tax deduction for the . donation amount against their taxable income. By . reducing taxable income, the corporation reduces …

The “Triple Benefit” corporate donation strategy - CIBC
Whether you’re donating personally or from a corporation—Canada has significant tax incentives designed to promote charitable giving. The cost of gifting can drop further when you gift …

THE TAX TREATMENT OF CHARITABLE DONATIONS
Charitable donation tax credits (CDTCs) are available to individual donors; businesses receive a tax deduction instead. The CDTC is generally deter-mined by applying the lowest combined …

Charitable Donations and Gifts (2020 and later tax years)
Mar 22, 2017 · An eligible medical gift made before March 22, 2017, to a qualifying organization for activities outside of Canada may be eligible for an additional deduction. Calculate the …

Donation or Sponsorship? Know the Rules, Reap the Rewards
• Tax deduction can be claimed up to 75% of net income • Donations can be claimed in the year of the gift or carried forward for up to 5 years • First-in first-out ordering rule: No amount is …

TAX RECEIPTING AND DONATION POLICY
A business that donates inventory can deduct the cost of the inventory as a business expense. If a charitable donation tax receipt is requested by the business, then they are required to …

ALBERTA CHARITABLE DONATIONS & GIFTS DEDUCTION
ALBERTA CHARITABLE DONATIONS & GIFTS DEDUCTION - AT1 SCHEDULE 20. The Alberta Corporate Tax Act. AT20 (Jan-15) AREA A - CHARITABLE DONATIONS. This schedule is …

Charitable giving: Donating public company shares - Grant …
For 2022, the federal donation tax credit is 15 per cent on the first $200 of donations claimed in the year, and 29 per cent on donations above $200. If your taxable income exceeds the top …

Corporate Donations: Another way to give - Mackenzie …
When donating through a corporation, the company is entitled to a tax deduction for the donated amount, equal to its fair market value. By reducing taxable income, the corporation can reduce …

How CRA taxes crowdfunding in Canada - taxpage.com
Expenses related to crowdfunding activities incurred by the taxpayer for the purpose of earning or generating income from the business may be deductible. Suppose a company uses …

Issuing Receipts for Non-cash Charitable Donations
In this article, we will cover Revenue Canada’s rules for issuance of donation receipts for non-cash items from both the donor’s and the recipient’s perspectives. The Income Tax Act states …

Tax Treatment of Charities and Non-profit Organizations
• Charitable donations by corporations receive tax assistance in the form of a deduction from income. Generally speaking, taxpayers may claim donations up to 75 per cent of their net …

Charitable donations - RBC Wealth Management
Corporate donation tax deduction A corporation is entitled to a tax deduction for the donation amount against their income. By reducing taxable income, the corporation reduces their tax …

Alternative minimum tax: Impact on charitable giving - CIBC
The Alternative Minimum Tax (AMT) system imposes a minimum level of tax on taxpayers who claim certain tax deductions, exemptions or credits to reduce the tax that they owe to very low …

Sponsorship Donations Tax Receipts A Guideline for the …
For those seeking sponsorship from companies or organizations, there is often a greater tax advantage for a business to claim their contribution as a business expense write‐off than a …

THE TAX TREATMENT OF CHARITABLE DONATIONS
Oct 1, 2015 · Charitable donation tax credits (CDTCs) are available to individual donors; businesses receive a tax deduction instead. The CDTC is determined by applying the lowest …

Tax Receipting Guide - United Way Alberta Capital Region
United Way of the Alberta Capital Region issues tax receipts for donations in accordance with regulations set out by the Canadian Revenue Agency (CRA). Each registered charity sets a …

Donation or Sponsorship? Know the Rules, Reap the Rewards
1. Different Tax Rules for Different Ty pes of Gifts a) Regular charitable gifts – A corporation may deduct the eligible amount of gifts made to qualified donees (which includes registered …

Charitable donations through your corporation 08152018 high
To encourage charitable giving, the government provides a corporation with a tax deduction when the corporation makes a donation to a registered charity. The deduction reduces the …

Consider using employee stock options for charitable gifting
Also, you may be able to claim a tax deduction equal to two-thirds of the taxable benefit from exercising the option. This means that the entire employee stock option benefit is effectively …

Charitable donations through your corporation - RBC Wealth …
Corporate donation tax deduction. A corporation is entitled to a tax deduction for the . donation amount against their …

The “Triple Benefit” corporate donation strategy - CIBC
Whether you’re donating personally or from a corporation—Canada has significant tax incentives designed to promote charitable …

THE TAX TREATMENT OF CHARITABLE DONATIONS - cana…
Charitable donation tax credits (CDTCs) are available to individual donors; businesses receive a tax deduction instead. The CDTC …

Charitable Donations and Gifts (2020 and later tax years)
Mar 22, 2017 · An eligible medical gift made before March 22, 2017, to a qualifying organization for activities outside of …

Donation or Sponsorship? Know the Rules, Reap the Rewards
• Tax deduction can be claimed up to 75% of net income • Donations can be claimed in the year of the gift or carried forward for up to …