Problem
JIM realizes the importance of being a good corporate citizen and makes generous contributions to worldwide charitable organizations. For the current year, JIM wants to contribute $1,500,000 to various charities. Based on prior year's tax laws, if JIM's taxable income before charitable contributions is $11,500,000 in the current year.
• Calculate the charitable contribution allowance for the current year.
• Provide a recommendation to JIM management regarding the tax implications of this contribution.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.