< 1 min read
September 29, 2014
Charitable deduction total for 2012 is nearly back to 2007's pre-recession level; even still, the future may look different than the past.
"The Internal Revenue Service recently reported on the amount of income tax deductions U.S. taxpayers took for charitable gifts in 2012, the most recent year for which data is available. After several years of decline, followed by a gradual recovery, the good news is that the charitable deduction total of $201.1 billion was just shy of the record $202.5 billion amount in 2007." -- Robert F. Sharpe Jr., WealthManagement.com