Archive for the ‘Charitable Giving’ Category.

Taxpayers who donate to charity should check out these resources

Some excellent recourses available by the IRS when it comes to charitable giving!  Is the charitable organization a legit US registered charity, how to fair value items, rules on deductibility, and non-cash donations. Taxpayers who donate to a charity may be able to claim a deduction on ...

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What Makes a Gift Taxable? 7 Helpful Tax Tips

If you’re a taxpayer who gives money or property to others, you may wonder if the federal gift tax applies to you. Fortunately, while any gift is potentially taxable, gifts are only subject to gift tax in a few specific situations. Here are seven things taxpayers need to know about the ...

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Reduce Your Income Tax Bill By Claiming Your Charitable Donations

Were you charitable this year? If so you may be able to claim a deduction on your 2016 federal income tax return. Donations of money or goods by December 31, 2016 made to an eligible organization can cut your tax bill. Please note that if you received something in return for your donati...

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Six Facts You Should Know Before Deducting a Charitable Donation

If you gave money or goods to a charity in 2015, you may be able to claim a deduction on your federal tax return. Here are six important facts you should know about charitable donations. 1. Qualified Charities. You must donate to a qualified charity. Gifts to individuals, political org...

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Tax Time Guide: Good Records Key to Claiming Gifts to Charity

IRS YouTube Videos: Charitable Contributions: English | Spanish | ASL Exempt Organizations Select Check: English | Spanish | ASL WASHINGTON ― The Internal Revenue Service today reminded taxpayers planning to claim charitable donations to make sure they have the records they need...

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IRS Tax Tips for Deducting Gifts to Charity

The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions. Here are six more tips that you should keep in mind: ...

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Tips from IRS for Year-End Gifts to Charity

IRS YouTube Videos: Charitable Contributions: English | Spanish | ASL Exempt Organizations Select Check: English | Spanish | ASL   WASHINGTON — The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity that several important tax law ...

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Tax Tips for Travel While Giving Services to Charity

Do you plan to donate your services to charity this summer? Will you travel as part of the service? If so, some travel expenses may help lower your taxes when you file your tax return next year. Here are several tax tips that you should know if you travel while giving your services to char...

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8 Tax Tips About Deducting Charitable Contributions

When you give a gift to charity that helps the lives of others in need. It may also help you at tax time. You may be able to claim the gift as a deduction that may lower your tax. Here are eight tax tips you should know about deducting your gifts to charity: 1. Qualified Charities.  You...

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Tax Tips for Deducting Charitable Contributions

If you are looking for a tax deduction, giving to charity can be a ‘win-win’ situation. It’s good for them and good for you. Here are eight things you should know about deducting your gifts to charity 1. You must donate to a qualified charity if you want to deduct the gift. You ca...

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