Charitable Donations | AccountingWEB

Charitable Donations


The Top 4 Financial Topics You Should Cover with Your Clients This Tax Season

Accountants should use this time of year to help clients deal with financial issues well beyond paying taxes.

Charitable Deductions: If You Don’t Prove 'Em, You’ll Lose 'Em

When it comes to claiming charitable deductions on a 2014 federal income tax return, good recordkeeping is essential.

Embrace a New Role: The Accountant as Charity Fundraiser

It can be scary to get started, but it will bring you into a new world of good works—and good connections.

Know the Twists and Turns Involving Charitable IRA Rollovers

If you donated IRA funds to a charity last year, make sure you account for it correctly this tax season.
Wealth management

How to Donate Property: Avoid a Tax Punishment for a Good Deed

Cash is cash, but when you're donating property to a charity, there's a long list of rules that can reduce your tax break. Read the rules before you sign over that deed.
Wealth management

How to Strategize Your Charitable Contributions

Charitable contributions provide great flexibility: You can use checks and credit cards down to the wire, and donated property can give you a lot of tax-savings bang for your buck.

A Fair Tax Shake on Quid Pro Quo Contributions

A taxpayer can deduct contributions made to a qualified charity. These donations are typically made "with no strings attached." But what happens when you receive something of value in return?

The Strange Case of the Blood Deduction

Few tax rules are as long standing and as stringently enforced as the blanket prohibition of deductions for the costs of commuting between home and work. Then came the woman who sold blood and presented novel interpretations of the tax code.

Single Out Charitable Volunteers for Tax Breaks

Do some of your clients serve on the boards of private foundations or work in the trenches for public charities? Volunteers are entitled to deduct their unreimbursed expenses incurred on behalf of qualified charitable organizations.

Midyear Tax Planning: Drum Up More Business

The summer doldrums have set in. Aside from the occasional "emergency," your office is quiet, as most clients pursue outdoor activities and tend to personal business. Tax planning is probably the last thing on their minds.

IRS Warns of Tax Scams Following Boston Marathon Tragedy

Since the bombings at the Boston Marathon on April 15, millions of dollars have been donated by people and businesses from across the country to help the families of the three people killed in the attack and those who suffered severe injuries.

IRS Posts Nine Tips for Deducting Charitable Gifts

The IRS often puts charitable deductions under the microscope. This area has been ripe for abuse in the past, but the rules for establishing and documenting gifts to charity were recently tightened.
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