Comments on: IRS could easily block state plan to increase tax deductions

By: Maximus300

Maximus300 — Tue, 31 Jul 2018 06:55:20 +0000

In reply to Anonymiss. Under current tax law to the extent you receive a benefit for making a charitable contribution, it is not deductible for Federal tax purposes. Under SB 227 donors receive a refundable state tax credit equal to 85% of such contributions. Thus, if I make a $10,000 contribution and as a result of that contribution I reduce my state tax liability $8,500, I can only deduct the difference, or $1,500.

By: Poboyz

Poboyz — Mon, 19 Feb 2018 16:16:29 +0000

In reply to Terry.

Just so you can Read-Up before you mislabel something else that you have one definition for and the entire world, another: https://en.wikipedia.org/wiki/Communism

By: Anonymiss

Anonymiss — Thu, 25 Jan 2018 00:49:24 +0000

“It says that for a donation to qualify for a deduction, it must be “made without getting, or expecting to get, anything of equal value. …”

Wait a minute! If people knew that they wouldn’t be able to write off charitable donations, wouldn’t they think twice before making them?

By: Dude

Dude — Wed, 24 Jan 2018 19:20:50 +0000

Can you imagine the liberal uproar if a conservative news agency put out a story titled,”California shows how to take on Obama”. Hypocritical idiots.

By: machiavelli

machiavelli — Wed, 24 Jan 2018 19:07:30 +0000

deLeon will certainly get support for SB227, just as he gets additional support for the DMV bill, allowing illegals to get a driver’s license AND vote. Toss in California’s Constitutional Amendment 22, a piece of legislation that calls for a 7 percent surcharge on companies that have net earnings over $1 million, in addition to the current state corporate tax rate of 8.84 percent and deLeon will walk all over Senator Feinstein and replace her this November. His progressive base will love him as the rest of us pack up and exit the state.

By: Terry

Terry — Wed, 24 Jan 2018 19:06:45 +0000

Again communist CA believes the Constitution is to be ignored. US Govt is to be ignored. When will these communist be charged in Federal Court & hauled off to jail.