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  • Checking of Donation

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    Ae-cha Nae Guk
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    This document outlines how to calculate allowable deductions for donations and contributions for tax purposes. It lists steps such as adding donations to taxable income to get an adjusted basis, then multiplying the adjusted basis by an allowed rate that differs for individuals and corporations to determine the allowable deduction amount, and comparing that to any claimed deduction to identify any deficiency.

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    This document outlines how to calculate allowable deductions for donations and contributions for tax purposes. It lists steps such as adding donations to taxable income to get an adjusted basis, then multiplying the adjusted basis by an allowed rate that differs for individuals and corporations to determine the allowable deduction amount, and comparing that to any claimed deduction to identify any deficiency.

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    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    7 vues1 page

    Checking of Donation

    Transféré par

    Ae-cha Nae Guk
    This document outlines how to calculate allowable deductions for donations and contributions for tax purposes. It lists steps such as adding donations to taxable income to get an adjusted basis, then multiplying the adjusted basis by an allowed rate that differs for individuals and corporations to determine the allowable deduction amount, and comparing that to any claimed deduction to identify any deficiency.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 1

    Checking of Donation & Contribution

    Taxable Income -
    Add: Donation/Contribution

    Adjusted Basis -
    Multiplied by Allowed rate -
    Individual 10%
    Corporation 5%

    Allowable Deduction -
    Claimed Deduction

    Deficiency,if (over) claimed -

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