Tax Deductible Expenses for Charity Volunteers
Although no tax deduction is allowed for the value of services performed for a charity, there are deductions permitted for out-of-pocket costs incurred while pe
Charity
Video Tips: Novel Way for Taxpayers to Donate to Maui Wildfire Relief
Employees can now donate their unused paid vacation time, sick leave, and personal time off to qualified Maui wildfire relief charities through their employers.
IRS Announced a Novel Way for Taxpayers to Donate to Maui Wildfire Relief
The IRS has made it possible for employees to donate their unused paid vacation time, sick leave and personal time off as a donation to qualified Maui wildfire relief charities
The Curious Case of the Hole-in-One: Tax Ramifications and Legal Wranglings Unfold
Tax Ramifications of Winning a Charity Hole-in-One
Video Tips: Donating to Charities through IRAs
A QCD is a nontaxable distribution made directly by the trustee of an IRA to organizations that are eligible to receive tax-deductible contributions.
Now Is A Good Time to Review Tax Benefits for Charitable Giving
Watch this video for beneficial tax tips if you are planning to make donations on Giving Tuesday.
Bunching Your Deductions Can Provide Big Tax Benefits
If your tax deductions normally fall short of needing to itemize and the standard deduction you are allowed is greater, or even if you are able to itemize but only marginally, you may benefit from adopting the “bunching” strategy.
Video Tips: Protect Yourself from Charity Scams
Donating to a charity is a great way to give back, but you should also take simple precautions to protect yourself from potential scams and make sure your donation goes to a worthy cause.
Don’t Overlook Your Charitable Contributions
Your charitable contributions include a wide variety of tax-saving opportunities, some you may not be aware of and some that are frequently overlooked.
RMDs and IRA-to-Charity Distribution Provisions
The tax law permits individuals aged 70½ or over to transfer funds from their IRA accounts to charities in what is referred to as Qualified Charitable Distributions (QCDs).