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The “50% of AGI Barrier”
http://www.strategicinheritance.com/ blog/ giving/ agi-barrier/
I wrote a post in which I referenced the “50% of AGI Barrier.” I realized maybe some of my readers would be unaware of what I was talking about. First of all, a definition. AGI is Adjusted Gross Income–the basic number on which the IRS calculates your income tax. The “50% Barrier” refers to the fact that the US tax code permits you to give up to 50% of your AGI to approved charities and claim a deduction. Gifts beyond 50% of AGI can be carried forward for deduction in the future–up to five years. A great benefit, indeed. However . . .
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