Features of the construction of a Charitable contribution deduction for United States Federal Income Tax purposes: lessons for Ukraine
Journal Title: Формування ринкових відносин в Україні. Збірник наукових праць - Year 2018, Vol 10, Issue 10
Abstract
In the article were analyzed the current tax incentives for giving in the United States, the right to use which arises when the payers of individual income tax do socially useful activity – charitable activities. In was outlined the state of the charitable sector development in the country in 2017 based on the annual report «Giving USA–2017». It was disclosed the peculiarities of the design of standard deduction and itemized deductions – forms in which the tax incentive of philanthropy in the country are implemented. It was estimated the correlation between these forms of tax incentives for giving for personal income tax in the United States in terms of the number of filed declarations and the volume of declared benefits. It was indicated the problematic aspects of the Charitable contribution deduction for United States Federal Income Tax purposes. There were given practical approaches that have been tested in the USA for solving complex situations, the cause of which are factors of national origin, including the specifics of the tax system of Ukraine and the mentality of taxpayers.
Authors and Affiliations
V. V. BOBRIVETS
Keywords
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