Feb 8, 2022 | Blog, Tax Bites
If you’re deducting a charitable contribution on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t yet received a letter for a charitable donation you made in 2021? Here are the rules.
Oct 5, 2021 | Blog, Tax Bites
Are you an artist or collector interested in donating artwork to charity? Here are the basic rules to claim a tax deduction for your generosity.
Oct 29, 2019 | Blog, Tax Bites
There’s a tax-smart strategy for high-net-worth individuals over 70-1/2 years old who have IRAs and are charitably minded.
Jul 9, 2019 | Blog, Tax Bites
Do you spend time volunteering for charity? While you can’t deduct the value of your time, you may be able to deduct some of the out-of-pocket costs. Here are the rules.
Sep 18, 2018 | Blog, Tax Bites
Donating artwork is a great way to share enjoyment of the work with others. But to maximize the tax benefit, too, you must plan your gift carefully and follow all the rules.
Jul 10, 2018 | Blog, Tax Bites
Assuming a charity is qualified, you may be able to deduct some of the out-of-pocket costs you incur when volunteering for the organization. But the rules are complex.
Dec 12, 2017 | Blog, Tax Bites
The charitable donation deduction hasn’t been proposed for elimination or reduction under tax reform, but there still are reasons to maximize charitable giving this year. Just be sure to follow the rules.
Oct 2, 2014 | Blog, Tax BitesIf you’re considering donating a property to charity, here are some possible tax traps you should be aware of: If you donate real estate to a public charity, you generally can deduct the property’s fair market value. But if you donate it to a private foundation, your...