Due to various circumstances I have a huge amount of money stock piled and available to donate to charity this year. I'd like to maximize the amount donated, which means maximizing my tax savings as that is more money I can donate next year.
My current salary would put me over the AMT limit, but since I just got the raise I shouldn't actually have an income for this year sufficent to hit the AMT. I also donate enough to charity that I expect to come close to the 60% that I can claim next year and subsequant years even if I don't roll over money from this year.
It looks like there is a 1 time exception this year for charitable donations that allow me to donate a full 100% of my salary (or rather income, which is lower then my current salary) to charity this year? My plan was simple to donate all of it, but considering how much money that is I wanted to check if there are any catches I should be aware of before I donate the money this month?
And if I really donate enough money to bring my taxable income down to 0 does that mean I don't need to do my taxes this year ;) :P