November 8, 2009 12:00 am

Tax Strategies for Charitable Giving

If you’re so inclined and can afford to share your wealth, the tax law will reward you. Due to the recession, many charities are reporting that giving is down and your contributions are needed now more than ever.

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Tax Glossary

Amount recognized

The amount of gain reportable and subject to tax. On certain tax-free exchanges of property, gain is not recognized in the year it is realized.

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