For 2020, Corporations Are Allowed a Deduction for Charitable Contributions

question 14

True/False

For 2020, corporations are allowed a deduction for charitable contributions, limited to 25 percent of taxable income before the deduction.

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Definitions:

Real Estate Market

A sector of the economy that deals with the buying, selling, and leasing of land, buildings, and properties.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature.

Recession

A significant decline in economic activity across the economy, lasting longer than a few months, typically visible in real GDP, real income, employment, industrial production, and retail sales.

Subdivision

A process of dividing land into pieces that are easier to sell or otherwise develop.