Charitable giving, nonprofit tax rules, and what donors and organizations need to know to give (and receive) the right way.
On the FBI’s Ten Most Wanted list today: Bin Laden’s picture with the word “Deceased” underneath. No, wait, I’m not going to get all political on you. I don’t think I need to. You’re a grown-up and you can draw your own conclusions about the importance of this event and what it means for our…
Taxpayer asks: I was watching Top Chef Masters and I ahd a question. I know you have to report your winnings on a game show. On the Masters version, the chefs don’t get the money because it goes to charity. My question is can they take a tax deduction? taxgirl says: I haven’t seen Top…
First, my thoughts and prayers go out to those affected by the events in Japan. The stories and photos coming out of Japan are just heartbreaking. I know that many of you, like me, want to know what you can do to help out in what is being referred to as Japan’s ‘most difficult crisis’…
First in the series: A is for Applicable Federal Rates, or AFRs. Each month, the IRS provides various prescribed rates for federal income tax purposes; those rates are regularly published as revenue rulings. You can see the latest list of rates as a revenue ruling here (downloads as a pdf). If you browse the list,…
The IRS has announced it will air a free webinar, “Starting Off Right (Part II): What New Non-501(c)(3) Organizations Need to Know” on February 24, 2011. The webinar will be broadcast at 2:00 pm (ET); 1:00 pm (CT); Noon (MT); and 11:00 am (PT). The webinar has been developed especially for: New 501(c)(4), (c)(5), (c)(6),…
The IRS has announced a change in the reporting requirements for small tax-exemption organizations. Beginning in 2007 (for tax year 2006), organizations with gross receipts of less than $25,000 were required to file a form 990-N (sometimes called an “e-Postcard”) with the IRS each year. Beginning in 2011 (meaning the 2010 tax year), the threshold…
The nominations are in for the 12 Days of Charitable Giving 2010. Our final of twelve charities to be featured this year is Sheltering Books, a nonprofit organization that collects women and children’s books and donates them to homeless shelters, domestic violence shelters and residential treatment centers that house children. The organization began in 2007…
The nominations are in for the 12 Days of Charitable Giving 2010. Our eleventh of twelve charities to be featured this year is Back on My Feet, a nonprofit organization that promotes the self-sufficiency of homeless populations by engaging them in running as a means to build confidence, strength and self-esteem. Here’s what our nominee…
The nominations are in for the 12 Days of Charitable Giving 2010. Our tenth of twelve charities to be featured this year is Northwest Philadelphia Interfaith Hospitality Network whose mission is to mobilize resources and volunteers among the diverse congregations and communities of Northwest Philadelphia in direct response to the needs of homeless families for…
This month, I’ve been focusing on charitable donations. DoSomething.org, one of the largest organizations in the US that helps young people rock causes they care about, just released its list of the most charitable celebs for 2010. At the top of the list? Lady Gaga (yes, Dad, she’s a real person), who was given the…