Kate Middleton announces her charities of choice

Kate Middleton announced the charities she will officially be donating to: The National Portrait Gallery, Action on Addiction, East Anglia’s Children’s Hospices, and The Art Room.

St. James Palace, home to several members of Britain's Royal Family and their household offices, recently told the press, “The
duchess’ first patronages and her volunteer position reflect her…personal interests in the arts, the promotion of outdoor activity, and supporting people who are in need of all ages, especially young children. The duchess has chosen to support organizations that complement the charitable work already undertaken by her husband.”

Many people, celebrity or not, have a charitable inclination. Americans give over $300 billion to non-profits each year. Giving to your favorite charity is a kind act, but there are also tax considerations to make when you donate.

Most people will know they can take a tax deduction for the charitable donations they make. However, there are many different scenarios one may face depending on the type of donation (cash, income generating property, tangible personality, or real estate, for example) and the type of charity you are donating to (public charities, operating foundations, or private non-operating foundations, for example). Additionally, there are times when only certain percentages of the donation are deductible based on several factors. These scenarios determine how much of your donation you can deduct. However, one rule will still apply to any charitable contributions regardless of the examples listed above.

Charitable donations are not like other itemized deductions. The maximum amount of your total charitable donations that can be deducted is limited to 50% of your adjusted gross income. If you gave $15,000 in charitable donations, but your adjusted gross income was $20,000.00 you could only deduct $10,000 of the total of your various donations.

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