How do tax deductions work with charitable donations?

Question

Need wallet.org says “In general, you can deduct up to 60% of your adjusted gross income via charitable donations, but you may be limited to 20%, 30% or 50% depending on the type of contribution and the organization.” but I don’t know what those words mean 😆

In: 9

Answer 1

Basically, the government wants to make charity easier and cheaper. If you give ten dollars to charity, you won’t pay taxes on ten dollars of your income. 60% is just the limit of tax-free money you can donate, and in some case is even lower