Business, 02.12.2021 05:50 photagraphykid

In its first year (2021), Barsky Corporation made charitable contributions totaling $70,000. The corporation's taxable income before any charitable contribution deduction was $250,000. In its second year (2022), Barsky made charitable contributions of $15,000 and earned taxable income before the contribution deduction of $300,000. Required:
a. Compute Barsky's allowable charitable contribution deduction and its final taxable income for its first year.
b. Compute Barsky's allowable charitable contribution deduction and its final taxable income for its second year.

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In its first year (2021), Barsky Corporation made charitable contributions totaling $70,000. The cor...

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