15% limit on charitable contributions?
Posted: Tue Jul 12, 2005 8:46 pm
Thanks, Larry. That was it.
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Tuesday, July 12, 2005 3:19 PM
Subject: RE: [cdcbaa] 15% limit on charitable contributions?
See 1325(b)(2)(A) for reference to the 15% limit.
________________________________________________
Larry D. Simons
SulmeyerKupetz
A Professional Corporation
R333 South Hope Street, Thirty-Fifth Floor, Los Angeles, CA 90071
Voice: 213.626.2311 Fax: 213.629.4520
Northern California Office:
1080 Marsh Road, Suite 110, Menlo Park, CA 94025
Voice: 650.326.2245 Fax: 650.326.5134
E-Mail: lsimons@sulmeyerlaw.com
URL: www.sulmeyerlaw.com
-----Original Message-----
f Mark J Markus
Sent: Tuesday, July 12, 2005 3:10 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] 15% limit on charitable contributions?
I was just sifting my way through BARF (never thought I'd say that in a sentence--at last not since my college partying days) and was analyzing the charitable contribution "exception" to means-teset violations. I seem to recall that such contributions were limited to 15% of the debtor's gross income, but I cannot find that anywhere in the Code, currently or in BARF. Was this in the Internal Revenue Code or something? Anyone know where (or if) that came from and if it still applies? Seems to me that under BARF a debtor could theoretically give all his income to his church and not be subject to failing the means test.
The post was migrated from Yahoo.