The National Center for Charitable Statistics reports that more than half of charities and foundations said they received the majority of their donations in October, November, and December. If you made charitable contributions over the holidays and you want to receive tax deductions for them, how you made your donations is important. Situations that don’t generate [...]
With the holiday season on the horizon, you may see an uptick in the number of requests to donate from charitable organizations. We all like to help out when we can, and the holiday season seems an especially appropriate time for many of us to show our generosity. To help you give back while maintaining [...]
This tax season, even tax professionals are appalled by the complexity of some of the new taxes we’re facing. Visualize 50 nearly-bald CPAs and EAs running screaming from a seminar room, tearing out what’s left of their hair. Me? I just sat there crying. Here’s a look at some tax deduction changes you should remember [...]
Whether they’re on the Internet, the radio, or TV, there are a lot of tax tips floating around. Not surprisingly, many of them aren’t worth following. Many people accept tax advice from all the wrong places rather than spending the money to hire a professional. This is a prescription for disaster—listening to bad advice could [...]
As you plan your charitable year-end giving, decide how to select the right charity and determine how much of your hard-earned money to give to the charity of your choice. Here are 5 tips to help you pick the best charity for your year-end giving and donating so that you can make the most of [...]
This post was written by guest blogger Eva Rosenberg. I’ve had the privilege of attending some amazing weddings in my life: a beautiful, fun evening in New Orleans right after Hurricane Katrina; a magnificent wedding at the elegant Ambassador Hotel and an expensive affair that took over the bar and all the rooms on an [...]
Your neighbor is running a 5K for a worthwhile charity and hopes you’ll sponsor her. A nonprofit agency to which you’ve donated in the past keeps contacting you about additional gifts. A coworker is collecting funds to buy a milk-producing goat for a needy family across the globe. These are all good causes, but donation [...]
First, there’s the school wrapping paper sale. Then Girl Scout cookie sales. Then the big spring gala. They are all worthy causes, of course, but how do you budget for seemingly constant school fundraisers, especially if you have multiple kids in different schools? As shrinking state and federal budgets take their toll on schools, parents [...]
If buying a timeshare, you should ask why a timeshare is a good idea. If you invest in timeshares you may have problems with selling in the future. Q: My wife and I are looking for more ways to reduce our taxable income. Is buying a timeshare these days a good idea and can it [...]
As we all know, it’s important to get the details right when you are filing taxes. When it comes to charitable contributions, it’s even more important. The Tax Code doesn’t just require the paperwork to show the amount donated, it requires you to get the receipts on time—and those receipts must clearly specify that you [...]
