Charitable giving, nonprofit tax rules, and what donors and organizations need to know to give (and receive) the right way.
It’s the fifth day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is The Trevor Project. In 1994, Peggy Rajski won the Academy Award for Best Live Action Short with the film, Trevor. The film was…
It’s the fourth day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is Food To The Rescue (FTTR). According to recent studies, one in five children in Middle Tennessee does not know where their next…
It’s the third day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is Pets In Need. As a pet owner, I love the idea of Pets In Need. I know that taking care of a…
It’s the second day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is MEANS (Matching Excess and Need for Stability) Database. MEANS tackles hunger in a novel way. Too often, grocery stores and restaurants find…
It’s the first day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is The Elephant Sanctuary of Tennessee, sometimes just called The Sanctuary. I know what you’re thinking: elephants in Tennessee? I was confused, too,…
As the calendar year winds down, savvy taxpayers are looking for ways to make year-end gifts that can whittle down taxable income and save dollars come tax time. Others are merely seeking good causes to support – even without a tax deduction. Either way, you’re in luck: I’m gearing up for the 12 Days Of Charitable Giving. As I…
There’s no question that the world of news is changing. The chances are that you’re accessing this piece from your mobile device, a departure from the way that we consumed our news a decade ago. Now, the news landscape may be changing again. Once deeply connected to for-profit organizations, media outlets are considering other options….
Hurricane Dorian might have spared much of the southeastern United States, but its impact is still being felt. The storm roared ashore last week with 185 mph winds and heavy rains causing substantial damage to homes in Grand Bahama and Abaco before heading back out to sea, and returning to lash North Carolina’s Outer Banks. This…
According to the most recent data available from the Internal Revenue Service (IRS), just 12,177,779 taxpayers claimed the charitable donation deduction for the 2018 tax year, totaling $102.7 billion. That compares to 33,629,985 taxpayers who claimed the charitable donation deduction for the 2017 tax year, totaling $160 billion. That’s a difference of 21,452,206 taxpayers claiming nearly $37…
On Monday, I gave a speech in front of the National Association for Enrolled Agents (NAEA) about challenges in the tax profession. One of the things that I talked about was the importance of following the rules. Today, a district court judge ruled against the Internal Revenue Service (IRS) on just that point: they didn’t…