How to Get Allowable Charitable Donation Credit
Charitable giving not only supports those in need but also can provide financial benefits in the form of tax deductions. However, maximizing these benefits while staying compliant with…
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How to Choose Worthy Charitable Causes in 2022
Did you know that you can make charitable contributions as a business as well as donating as an individual? If not, you’ve been missing out on a great…
Your Guide To Small Business Charitable Donations In 2021
If you own a small business, you know how important it is to support various charitable causes, both within your own community and throughout the world. But as…
Beware Of Charity Fraud
Before making your next donation to your favorite charity you might want to do some research. Do you really know to whom you’re donating? Do you know the…
Disaster & Casualty Losses
A disaster loss is a loss attributed to a casualty occurring in an area declared by the President of the United States to be a disaster area entitled…
Is the Home Office Deduction for You?
For ages it has seemed that claiming the home office deduction on your tax return was a sure-fire invitation for an IRS audit. In fact, on many occasions,…
Charitable Contributions: Reporting To The IRS
The primary authoritative support concerning the valuation and reporting and recordkeeping of charitable donations is addressed in the Internal Revenue Service -- Publications 526 and 561. Publication…
When Doing Something Nice Back Fires – Loans/Gifts
It’s not unusual for a family member to provide financial assistance to another family member by giving the recipient money to meet a need -- i.e. to help…
Writing Off Bad Loans You Made
So your friend was in a pinch and you thought they’d be good for it and they weren’t. It’s not all bad; you can lower your taxable income…
Your Guide To Recordkeeping on Taxes & Charitable Donations
Make the most out giving to charity by benefiting from all the available tax breaks you’re entitled to. Maintaining diligent records is the cornerstone to being eligible for…