Donations limited to 60% of your AGI.

 

Limitations on annual church donations

The total of your church cash donations plus all other charitable contributions you make during the year typically cannot exceed 60 percent of your adjusted gross income (AGI). If it does, then you cannot deduct 100 percent of your donations in the current tax year. However, the amounts you can't deduct this year can be used as a deduction on one of your next five tax returns.

Tax treatment when flipping a house not sold at year end

 Good client of mine is flipping a house and it is still being worked on at year end.  Tax treatment is to put the unsold house in inventory and NOT to depreciate any of the house.

Either way, if you flip houses that is ordinary income. The flips are inventory and tax is owed on the gain as they are sold. Flips are NOT held as rentals so you don't get any benefits of depreciation.