Blog Archives

Charitably Giving with Intention – An Introspective – Part 1 – QCD’s

Last spring I became relatively involved with St. Peter’s Stewardship Committee out here in Greenwood Village, Colorado.  With membership ranks and pledged donations struggling, my wife and I developed a plan to drill down into several aspects of charitable giving

Tagged with: , , , ,
Posted in QCD, Qualified Charitable Distribution, Required Minimum Distribution, RMD

Tax-Free Transfers to Charity in January 2013 Can Still Count for 2012 For IRA Owners 70½ or Older

Act now! According to the IRS IRA owners age 70½ or older have until Thursday, Jan. 31 2013 to make a direct transfer, or alternatively, if they received IRA distributions during December 2012, to contribute, in cash, part or all

Tagged with: , , , ,
Posted in IRA, Retirement, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Relief

IRS Publication 526 – Charitable Contributions

This post is a brief review of IRS Publication 526. Basically if your goal is a legitimate tax deduction, then you must be giving to a qualified organization. Don't get duped.  You cannot deduct contributions made to specific individuals, political

Tagged with: , , , , , ,
Posted in Charitable Contribution

Is My Charity Legitimate with the IRS

Now is a GREAT TIME OF YEAR TO MAKE A CHARITABLE DONATION if you are so fortunate. When you make a donation to a charity you may be able to take a deduction for it on your tax return as

Tagged with: , , , , ,
Posted in Charitable Contribution, Gift Tax, Taxable Income

Trusts and Charitable Contributions CCA 20104202

Under IRC §170(c)(2)(A) generally speaking when a trust uses its income to buy an asset and in a later year gives that asset to a charity it is allowed a charitable deduction. Chief Counsel Advice 20104202 stipulates however that if the deduction was

Tagged with: , , , ,
Posted in Charitable Contribution, Trusts

Deductibility of Charitable Contributions – IRS Form 8283

Regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a bank record, payroll deduction records or a written communication from the organization containing the name of the organization, the date of

Tagged with: ,
Posted in Charitable Contribution

Charitable Donations – Tax Tips

Charitable contributions must be made to qualified organizations to be deductible. You can ask any organization whether it is a qualified organization and most will be able to tell you. Charitable contributions are deductible only if you itemize deductions using

Tagged with: , , ,
Posted in Charitable Contribution

Tax Exemption Questioned for Christian Congressional Man Cave

New York Times editorial, Render Unto C Street: It is not unusual for members of Congress to arrange group rentals in Washington to share housing costs and, for some, underline their continuing “outsider” status. What is highly unusual, and unjustifiable,

Tagged with: ,
Posted in Abusive Tax Shelter, Charitable Contribution, Tax Fraud, Tax Guidance & Preparation, Tax Problems & Requests

Tips for Year End Donations

WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Some of these changes include the following: Special Charitable Contributions for Certain IRA Owners This

Tagged with: , ,
Posted in Charitable Contribution
Subscribe via Email

Follow me on Twitter
QuickBooks Advanced Certified ProAdvisors Online

QuickBooks Certified ProAdvisor - QuickBooks Online Advanced Certification

Xero Certified Adviser