It’s the eleventh day of my 12 Days of Charitable Giving for 2020. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is On My Team 16. Often, charities are started out of tragedy. This one grew out of hope. On My Team16 (OMT16) was inspired by…
It’s the sixth day of my 12 Days of Charitable Giving for 2020. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is The Ty Louis Campbell Foundation. The Ty Louis Campbell Foundation is a nonprofit organization (EIN: 45-1858390) that funds innovative research and clinical…
Looking to reduce your taxable income with a donation of virtual currency to charity? The Internal Revenue Service (IRS) has issued guidance for donors (and charities) on the FAQ page of its website. The IRS addressed whether gifting virtual currency to a charity could result in income, gain, or loss. The IRS confirmed that if you donate…
It’s Fix the Tax Code Friday! Charitable deductions have been limited to taxpayers who itemize their deductions rather than claim the standard deduction. With the doubling of the standard deduction under the Taxpayers Cuts and Jobs Act, fewer taxpayers itemize their deduction. That means that fewer taxpayers have a tax incentive to make a charitable…
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…
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…
It’s the eleventh day of my 12 Days of Charitable Giving for 2018. Readers have suggested deserving charities over the past few weeks, and I’ll be posting one a day for – well, 12 days (I’m clever that way). Today’s charity is beGirl.world (bGw). beGirl.world was founded as a vehicle to teach and expose the…
Taxpayer asks: Dear Taxgirl: So I was trying to figure out how screwed we (my wife and I ) are because of the new 2018 “tax cuts” and it looks like we lost about 16k worth of deductions. we paid approx. 22k in state, local and property tax (Paul Ryan would call this the SALT…
It’s the seventh day of my 12 Days of Charitable Giving for 2018. Readers have suggested deserving charities over the past few weeks, and I’ll be posting one a day for – well, 12 days (I’m clever that way). Today’s charity is The International Rescue Committee (IRC). The IRC offers emergency aid and long-term assistance…
It’s the sixth day of my 12 Days of Charitable Giving for 2018. Readers have suggested deserving charities over the past few weeks, and I’ll be posting one a day for – well, 12 days (I’m clever that way). Today’s charity is Rise Against Hunger. Rise Against Hunger originally began as Stop Hunger Now in…