charitable deductions

How To Minimize Taxes Under The Trump Tax Law Using Donor-Advised Funds

How To Minimize Taxes Under The Trump Tax Law Using Donor-Advised Funds

In prior years, you may have enjoyed a charitable tax deduction along with other itemized deductions, but under the new tax law, with a giant increase in the standard deduction, it will be much harder for most people to realize that same tax benefit. However, a donor-advised fund may be the tool you need to continue to maintain your charitable giving while also maximizing your tax savings.

IRS issue proposed regulations on charitable contributions and state and local tax credits

IRS issue proposed regulations on charitable contributions and state and local tax credits

Today the U.S. Department of the Treasury and the Internal Revenue Service issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding state or local tax credit.

Charity Reveals Theft Of More Than A Million Dollars On Tax Return

Charity Reveals Theft Of More Than A Million Dollars On Tax Return

The American Bar Association (ABA) has revealed that a staff member had diverted about $1.3 million from the organization over a period of eight years. The theft was made public via the company’s annual tax form, a form 990.

IRS offers summer tips for temporary jobs, marriage, deductions and credits

IRS offers summer tips for temporary jobs, marriage, deductions and credits

Before starting a summer job, taking a vacation or sending the kids off to camp, the Internal Revenue Service wants taxpayers to know that some summertime activities may qualify for tax credits or deductions. The IRS also recommends that taxpayers check the amount of their withholding taxes now to help avoid surprises next filing season.