What it basically means is that you can give a tax-free donation to the charity of your choice. If you give $1000 to j.r.'s Home for Wayward Skanks (which is accepting donations, by the way) and your tax rate is 30%, that is $300 less dollars that goes to Uncle Sam. So, you're able to give $1000 for the price of $700.
can anyone explain how donating saves money on taxes
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