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…
I’ll confess that I had no idea who Kirk Herbstreit was when I first saw this story. Thankfully, my resident college football maven and fellow attorney filled me in. Apparently, for an OSU grad, he’s not too bad… After years of butting heads with PSU and MSU, Herbstreit has a new three-letter challenge: the IRS….
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!…
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…
For months now, we’ve heard tales that the newspaper industry as we know it is “done.” Several big-name papers have announced that they’re closing down or making cuts. Philadelphia’s own Daily News, for example, is no more. Newspaper owners blame a perfect storm of a downturn in the economy, combined with the rise of social…
Keep track of your mileage to/from volunteer activities for qualified charities. If you itemize, it’s deductible. #TwitterTaxTip (For more on twitter tax tips, see my prior explanatory post.)
Taxpayer asks: Hello there and thank you for answering my question. I am self-employed and contributed nearly $8,000 in cash/noncash donations this past year (goodwill, church, habitat for humanity). When my friend did my taxes on her computer program it did not reflect a deduction upon entering the charitable donation information. I have all proper…
It’s the final day of my 12 Days of Charitable Giving. To recap, I’ve asked a panel of judges to review a number of deserving charities as suggested by my readers. I’ve been posting one a day for – well, 12 days (I’m clever that way). In response to a lot of feedback from folks…
It’s the fourth day of my 12 Days of Charitable Giving (I know, I missed a day – sorry!). To recap, I’ve asked a panel of judges to review a number of deserving charities as suggested by my readers. I’ll be posting one a day for – well, 12 days (I’m clever that way). I…
Today marks the second day of my 12 Days of Charitable Giving. To recap, I’ve asked a panel of judges to review a number of deserving charities as suggested by my readers. I’ll be posting one a day for – well, 12 days (I’m clever that way). I encourage you to check out the charities…