What is the deduction for organizational expenses if Green chooses to deduct its costs as soon as possible? A) $500 B) $36,000 C) $667 D)n $5, 028 If a corporation's charitable contributions exceed the deduction limitation in a particular year, the excess A) may be carried back to the third preceding year. B) is carried over year. C) is not deductible in any future year. D) becomes a carryover to a maximum of five succeeding Richards Corporation has taxable income of $280,000 calculated before the charitable contribution deduction and before its dividends received deduction of $34.000. Richards makes cash contributions of $35,000 to charitable organizations What is Richards Corporation's charitable contribution deduction for the current year? A) $31,000 B) $28,000 C) $35,000 D) $24,000 The U.S, production activities deduction is based on percentage of which of the following? A) taxable income before the production activities deduction B) 50% of W-2 wages. C) qualified production activities income D) both A and C above