Charity Tax Savings - North Hempstead NY Shelter Dog Adoptions

THE SHELTER CONNECTION P.O. Box 226 Greenvale, NY 11548 (516) 626-8948
	Home		Email

Calculate Tax Savings Generated by Charitable Donation
Donation Amount	Tax Rate (see table)	Net Cost of Donation	Tax Savings

Enter Donation Amount and click on Calculate button Donation Amount = amount you will donate Tax Rate = your marginal tax rate from table below Net Cost of Donation = actual cost of donation after tax savings Tax Savings = amount of donation deducted from your taxes

2005 Federal Income Tax Brackets
Marginal Tax Rate	Taxable Income
	Single	Married Filing Jointly or Qualified Widow(er)	Married Filing Separately	Head of Household
10%	$0 - $7,300	$0 - $14,600	$0 - $7,300	$0 - $10,450
15%	$7,300 - $29,700	$14,6300 - $59,400	$7,300 - $29,700	$10,450 - $39,800
25%	$29,700 - $71,950	$59,400 - $119,950	$29,700 - $59,975	$39,800 - $102,800
28%	$71,950 - $150,150	$119,950 - $182,800	$59,975 - $91,400	$102,800 - $166,450
33%	$150,150 - $326,450	$182,800 - $326,450	$91,400 - $163,225	$166,450 - $326,450
35%	Over $326,450	Over $326,450	Over $163,225	Over $326,450
Note: You must itemize deductions to gain tax benefits. Total deductions should be greater than standard deduction: $5000 for a single filer under 65, $10000 for a married couple filing jointly.