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Southwestern

Brenda McCollum

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FIRST-PERSON: No income tax for 2005?

JACKSONVILLE, Fla. (BP)--On Sept. 23, President Bush signed legislation that lifts the 50 percent of Adjusted Gross Income (AGI) limitation on charitable deductions for 2005 federal income taxes. For gifts of cash made to a public charity between Aug. 28 and Dec. 31, the deduction limit is raised to 100 percent. Churches and ministries affiliated with the Southern Baptist Convention and state conventions are public charities.