Posts tagged as:

charitable deductions

Taxes, Donations and Lending a Hand

21 December 2009

In the tradition of tax years past, it’s the season to talk about charitable contributions! Charitable donations are an excellent way to reduce your tax burden for the year, all while doing something for the greater good. But as with everything in tax law, there are rules that need to be followed. For one, you [...]

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Ask the taxgirl: Educational Classes Through the PTA

17 December 2009

Taxpayer asks: The PTA 501(c)(3) at my son’s local public elementary school sponsors a language and a chess class. Is the tuition we paid for these classes considered a charitable contribution? Taxgirl says: Probably not. You generally can’t deduct the cost that you pay for goods or services provided by a charitable organization. There is [...]

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Ask the taxgirl: Charitable Donations and Estates

9 December 2009

Taxpayer asks: Can you tell me what the tax implications are for donating inherited items? My mother passed away about a year ago and I’m the executor of the estate. Now, my siblings are interested in taking deductions for items they feel they “inherited,” yet were actually immediately donated to charity without my siblings ever [...]

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Ask the taxgirl: 2010 Mileage Rates

3 December 2009

Taxpayer asks: I haven’t seen the 2010 standard mileage rates that the IRS usually puts out at the end of November. Do you know if there was an announcement on this? Taxgirl says: You have super timing! I received this email at 8:53 a.m. today. At 2:36 p.m., an email from IRS landed in my [...]

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Ask the taxgirl: Donating an Engagement Ring

28 October 2009

Taxpayer asks: Hi Tax Girl! I got rid of the husband and now I would love to get rid of the engagement ring. I have thought about donating it to a non-profit animal rescue group for them to auction at one of their charity events. What kind of deduction will I be able to claim [...]

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Ask the taxgirl: Wedding Dress Donations

28 October 2009

Taxpayer asks: Hi Taxgirl, Like many women this year, I got married and now I would like to donate my dress to charity. What do I need to do for tax purposes? I paid 1000 for it new and only wore it once. It is in good condition. Do I need it appraised? I still [...]

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Ask the taxgirl: Volunteering and Charitable Deductions

16 August 2009

Taxpayer asks: My wife is a Girl Scouts Leader. Is all of her time and contributions to the troop tax deductible? If so, how? Taxgirl says: Okay, the bad news first: the value of your time spent volunteering for charitable organizations is never deductible. Ever. But there is good news! Out of pocket expenses relating [...]

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Fix the Tax Code Friday: Charitable Deductions

24 July 2009

Earlier today, I blogged the case of the Herbstreits who have sued the IRS for denying a charitable deduction for donating their home (but not the related property) to the local fire department for training purposes. Since then, I’ve had a few interesting conversations (including on twitter!) about the value of the deduction. The IRS [...]

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