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When the owner of a donor-advised fund makes a gift to the fund, it can create an immediate tax deduction to apply against current income. The deduction for a gift made in cash is limited to 60% ...
The donor may claim only a $300 deduction, because the amount contributed ($375) is reduced by the amount of the benefit that he received ($75, the fair market value of the ticket). This holds true even if the donor does not actually attend the dance. The taxable income of the donor is reduced by $300.
This limiting of the powers is crucial to obtaining tax exempt status with the IRS and then on the state level. [12] Organizations acquire 501(c)(3) tax exemption by filing IRS Form 1023. [13] As of 2006, the form must be accompanied by an $850 filing fee if the yearly gross receipts for the organization are expected to average $10,000 or more.
Monroe County is a county in the Commonwealth of Pennsylvania. As of the 2020 census, the population was 168,327. [2] Its county seat is Stroudsburg. [3] The county is part of the Northeast Pennsylvania region of the state. [a] The county was formed from sections of Northampton and Pike counties on April 1, 1836. [4]
The main question behind this issue stems into three different approaches. First, federal spending should be neutral, meaning federal taxation should roughly equal expenditures. Second, it should be redistributive, meaning rich states should be taxed most heavily and poorer states should receive more benefits.
Pennsylvania statistical areas. Coordinates: 40.8781°N 77.7996°W. The United States Commonwealth of Pennsylvania currently has 48 statistical areas that have been delineated by the Office of Management and Budget (OMB). On July 21, 2023, the OMB delineated 12 combined statistical areas, 16 metropolitan statistical areas, and 20 micropolitan ...
A donor-advised fund is an account at a sponsoring organization, generally a public charity, where an individual can make a charitable gift to enjoy an immediate tax benefit and retain advisory privileges to disburse charitable gifts over time. The contribution a donor makes to their donor-advised fund is 100% irrevocable and destined for a ...
Website. www.revenue.pa.gov. The Pennsylvania Department of Revenue (DOR) is an agency of the U.S. state of Pennsylvania. The department is responsible for collecting all Pennsylvania taxes, including all corporate taxes and taxes on inheritance, personal income, sales and use, realty transfer, motor fuel, and all other state taxes. [1]