Abstract:Our paper focuses on the perceived benefits of tax deduction associated with charitable donation from an individual's viewpoint. After analyzing four average cases of taxpayers from various income levels and after dividing them as home owners or renters, we conclude that a taxpayer is more likely to receive the benefit of a charitable deduction if the taxpayer also owns a home which is secured by a mortgage. The tax benefit is defined as the dollar amount of tax that is reduced by donating to charitable founda… Show more
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