Posts tagged as:

charitable-donation

Tax Exempt Organizations Face Crucial Deadline

14 May 2010

Years ago, small tax exempt organizations had it easy. So long as they raised less than $25,000 in a calendar year, they general didn’t have to file an informational return with IRS. Easy. That all changed in 2006. The Pension Protection Act of 2006 made it mandatory for most tax-exempt organizations to file an annual [...]

8 comments Read the full article →

Think Pink This Mother’s Day

2 May 2010

If you were to make a list of things about me and things about my mom, you’d notice a lot of differences. She lives in the south and likes rodeos, westerns on AMC and Christmas sweaters. Me? I live up north and I like baseball games, quirky British comedies and I wear a lot of [...]

1 comment Read the full article →

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 [...]

10 comments Read the full article →

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 [...]

3 comments Read the full article →

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 [...]

0 comments Read the full article →

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 [...]

5 comments Read the full article →

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 [...]

9 comments Read the full article →

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 [...]

6 comments Read the full article →

Ask the taxgirl: Efiling and Charitable Contributions

8 April 2009

Taxpayer asks: Hi… I’m about to file my taxes through efile using H&R Block’s Tax Cut software. I was wondering if the IRS will see my list of charitable organizations? When I filed paper copies in past years, that information was not disclosed. Does efile provide the IRS with more information then paper filing? Thanks! [...]

0 comments Read the full article →

“American Terrorist” McVeigh Attorney Loses Tax Deduction

31 March 2009

I know what you’re thinking – McVeigh was executed, right? What’s this about a tax deduction? You’re right. Timothy McVeigh was a US Army vet who was eventually found guilty of bombing the Alfred P. Murrah Building in Oklahoma City on the second anniversary of the Waco Siege, April 19, 1995. He was labeled a [...]

0 comments Read the full article →

← Previous Entries

Next Entries →