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The 80g limit is a new provision in the tax code that has been designed to benefit those who make charitable contributions. Under this new law, taxpayers may deduct up to 80% of their adjusted gross income (AGI) when they make eligible donations to charitable organizations. This means that if a taxpayer's AGI is $100,000, they can potentially deduct up to $80,000 of it just by making eligible donations. This provision could be a great way for taxpayers to reduce their tax burden while also supporting important causes.
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