A year-end question for the experts here

Practical and Practice issues for Professionals who practice in the area of taxation. Moral, social and economic issues relating to taxes, including international issues, the U.S. Internal Revenue Code, state tax issues, etc. Not for "tax protestor" issues, which should be posted in the "tax protestor" forum above. The advice or opinion given herein should not be relied on for any purpose whatsoever. Also examines cookie-cutter deals that have no economic substance but exist only to generate losses, as marketed by everybody from solo practitioner tax lawyers to the major accounting firms.
Judge Roy Bean
Judge for the District of Quatloosia
Judge for the District of Quatloosia
Posts: 3529
Joined: Tue May 17, 2005 7:04 pm
Location: West of the Pecos
Contact:

A year-end question for the experts here

Postby Judge Roy Bean » Sat Nov 01, 2008 8:30 pm

Professional curiosity on the part of a colleague who is involved in fund raising for non-profits brings me to ask this august body:

What percent of filers in the upper-income brackets take advantage of charitable donations to reduce their income tax exposure?

And is there a "bump" that occurs in December?

Thanks in advance.
The Honorable Judge Roy Bean
The world is a car and you're a crash-test dummy.
The Devil Makes Three

User avatar
Demosthenes
Grand Exalted Keeper of Esoterica
Posts: 5773
Joined: Wed Jan 29, 2003 4:11 pm

Re: A year-end question for the experts here

Postby Demosthenes » Sat Nov 01, 2008 9:53 pm

Tell your colleague to sign up for the Planned Giving email list at Yahoo. I moderate the group and it's made up of 900+ fundraising professionals.

http://groups.yahoo.com/group/plannedgiving/

What percent of filers in the upper-income brackets take advantage of charitable donations to reduce their income tax exposure?


As of 2005 (the most recent stats published by the IRS), there are 134 million individual tax returns filed each year. Of these, there are an estimate 3.6 million returns filed each year with an adjusted gross income in excess of $200,000. Of these high income returns, 3.2 million returns included some form of charitable deduction.

And is there a "bump" that occurs in December?


Absolutely. December is considered high season in the charitable world.
Demo.

Judge Roy Bean
Judge for the District of Quatloosia
Judge for the District of Quatloosia
Posts: 3529
Joined: Tue May 17, 2005 7:04 pm
Location: West of the Pecos
Contact:

Re: A year-end question for the experts here

Postby Judge Roy Bean » Sat Nov 01, 2008 11:17 pm

I knew I came to the right place...will pass that on.
The Honorable Judge Roy Bean
The world is a car and you're a crash-test dummy.
The Devil Makes Three


Return to “Tax Practice & Policy and Tax Shelters”

Who is online

Users browsing this forum: No registered users and 1 guest