Mar
04
Charitable Giving Statistics
ByAmericans give billions of dollars per year to charities. In fact, charitable deductions in 2002 totaled over $136 billion. According to the IRS Statistics of Income Bulletin (winter 2003-04), here are the average breakdown of claimed deductions for charitable contributions on 2002 tax returns:
- Taxpayers with Adjusted Gross Income between $15,000 to $30,000 averaged charitable contributions of $1,890.
- Taxpayers with AGI between $30,000 and $50,000 averaged $2,006 in charitable contributions.
- Taxpayers with AGI between $50,000 and $100,000 averaged $2,530 in charitable contributions.
- Taxpayers with AGI between $100,000 and $200,000 averaged $3,875 in charitable contributions.
- Taxpayers with AGI over $200,000 averaged $17,354 in charitable contributions.
Related Posts -
What makes an Exceptional CEO? I came across a fascinating website the other day called TheCEOProject, which released a report last July that outlines the factors they discovered which makes exceptional CEO's exceptional. For the past 15 years, they have studied and worked with about 700 CEOs of fast growing, mid-sized companies with revenues between...... -
What are "Start-Up" costs? To the IRS, qualified start-up costs are those expenses that a business incurs while in the process of determining whether or not to start a new business, and which new business to begin. This is often called the "whether or which test". See IRS Rev. Rul. 99-23, 1999-1 CB 998.......
Related Websites

