Lifetime charitable giving, properly planned, may afford income tax savings. Under current federal income tax law, the income tax charitable deduction is available to taxpayers who itemize deductions rather than take the...
Read More“Giving Tuesday,” which follows Black Friday and Cyber Monday, is a day set aside each year to remind us to contribute to organizations that are important to us. Please remember that you have until December 31 to make a...
Read MoreTis the season for charitable giving. First, in order to claim a deduction for a contribution to a qualified charitable organization, a taxpayer must itemize deductions. Second, the contribution must be a contribution of money...
Read MoreBy Emily Dorisio As we enter the giving season and begin making charitable contributions it is important to remember that some gifts require more than just the act of giving to qualify for a charitable tax deduction. For...
Read MoreBy Thomas D. Hammerschmidt Many people support their favorite local charities or those that address medical research or treatment in a particular area, maybe as a result of an illness or death of an acquaintance or family...
Read MoreBy Henry M. Grix A recent Tax Court decision is a cautionary tale about the importance of following IRS rules to substantiate a deduction for non-cash charitable contributions. Taxpayers must attach a qualified appraisal in...
Read MoreBy Tip Richmond One of the most effective and popular income tax planning strategies has been the so-called “IRA Charitable Rollover”, which allowed taxpayers aged 70-1/2 and older to donate up to $100,000 directly from their...
Read MoreBy Peter Sheldon If you are contemplating a gift to a charitable organization that is exempt from tax under Section 501(c)(3) of the Internal Revenue Code, consider the possibility of making the gift with appreciated property...
Read MoreBy Cynthia Black Svenson With only six weeks left in 2015, now is a good time to determine if it makes tax sense to take certain actions before year-end.Are you planning to make charitable contributions in the near future? Do...
Read MoreBy Jeffrey L. GehringRetirement accounts comprise a significant part of most people’s net worth. As many people know, when distributions are made from a retirement account to a beneficiary following the owner’s death, the...
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