William a high school teacher earns about 50000 each year, Financial Accounting

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William a high school teacher earns about 50000 each year

William, a high school teacher, earns about $50,000 each year. In December 2016, he won $1 million in the state lottery. William plans to donate $100,000 to his church. He has asked you, his tax advisor, whether he should donate the $100,000 in 2016 or 2017. Identify the tax issues related to William’s decision.

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Financial Accounting: William a high school teacher earns about 50000 each year

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Financial Accounting: William a high school teacher earns about 50000 each year

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