Charitable Giving And Taxes: What’s Changing For 2026?
Charitable giving tax rules change in 2026. Learn about the new $1,000/$2,000 deduction, the 0.5% AGI floor, and limits for high-income taxpayers.
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Charles Barkley Offers To Pay Funeral Costs For Youngest Carjacking Victims
On July 25, 15-year-old Keiearra Williams, 10-year-old Joseph Reed, and 7-year-old Terrence Moore were selling fruit for a church fundraiser in Philadelphia when they were mowed down by a sport utility vehicle. Joseph died at the scene; Terrence and Keiearra were pronounced dead at the hospital. Cornelius Crawford was at the wheel of the vehicle,…
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Making Your Gifts Count: 10 Smart Tips For Charitable Giving
Get a receipt and 9 other tips for donors who don’t want to tangle with the IRS.
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Back To School: Donating Backpacks, Clothes & School Supplies
It’s Back To School Week on the blog! All week long, I’ll be answering your questions about school and tax – complete with fun giveaways. Next up: tips on claiming charitable deductions for donating school supplies, backpacks and more.
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11 Things To Know Before Filing Your Tax Return For 2012
With so many changes looming for 2013, it’s easy to forget that there were some significant tweaks to the Tax Code for 2012. Here’s a list of eleven changes to keep in mind before you file your 2012 tax return, due April 15, 2013: 1. Payroll tax credit will still affect self-employed taxpayers. The expiration…
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IRS Issues Guidance For Charities – And A Warning To Donors
Today, the Internal Revenue Service announced that approximately 275,000 formerly tax-exempt organizations have lost their charitable status as a result of failing to file the proper forms. Loss of tax-exempt status can spell disaster for some organizations: not only does it mean that the organization must file income tax returns and pay tax but perhaps…
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Ask The Taxgirl: Valuing Your Services For Charity
Taxpayer asks: Hi, I read your blog entry that explains that service time donated to a charity is not deductible. What if there is an actual assignable value of the service time to the charity? For example, I am donating my services as an auction item for a charity auction; if somebody buys it for…
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Congress Wants You To Give To Haiti. But Just Haiti.
On January 12, a massive earthquake struck Haiti. The earthquake measured 7.0 on the Richter Scale. Devastating aftershocks followed. The confirmed death toll is 150,000 people and the Red Cross estimates that nearly 3 million people will be affected by the disaster. By comparison, Hurricane Katrina, considered to be the largest natural disaster in the…
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Ask The Taxgirl: Charitable Donations & Estates
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: Donating An Engagement Ring
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 and…