charitable contribution


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charitable contribution

n. in taxation, a contribution to an organization which is officially created for charitable, religious, educational, scientific, artistic, literary, or other good works. Such contributions are deductible from gross income, and thus lower the taxes paid. (See: charitable remainder trust, charity)

References in periodicals archive ?
announced today it has again adopted a Shareholder Designated Charitable Contribution program for all registered Class A and Class B shareholders.
Charitable contribution carryover (for regular tax and AMT purposes) = $450,000
8 billion in potentially erroneous non-cash charitable contribution deductions in tax year 2010.
And, how about offering customers an opportunity to open an 18-month CD (with either floating or fixed-rate option) in return for directing the bank's charitable contribution the way the customer wants?
In the end, the donor receives a charitable contribution for income tax purposes in the year of the asset transfer, the charitable contribution is exempt from gift tax and the value of the charitable component now has been transferred out of the donor's estate for estate tax purposes.
The Charitable Contribution for Non-itemizers will bring greater equity to the tax system by giving a tax break to the many low- and middle-income people who currently give and will provide reinforcement and incentive for them to keep giving.
The fact that Doug's company can offer a no-annual-fee program and still afford a significant charitable contribution leads me to both question the viability of this program and also challenge Anne Owens' current purchasing-card program vendor.
com) today announced an innovative approach to charitable contributions that harnesses the power of customer reviews to determine the amount of the charitable contribution.
In his testimony, Smith urged Congress to secure the future of the charitable contribution and pursue fairness and parity in tax treatment of America's charities and small businesses.
170(t)(8) cost the taxpayers a charitable contribution deduction because of what might seem to be an inconsequential oversight.
In 2007, the Durdens claimed a charitable contribution deduction of $22,517 for cash contributions to their church.
Their required minimum distributions (RMDs) are taxed anyway, so a QCD may substitute for some other charitable contribution they would otherwise make.