7 Tax Tips for Year-End Charitable Donations
Under sweeping tax reform proposals being discussed in Congress, millions of taxpayers may no longer be itemizing tax deductions in 2018. This creates an added incentive to bolster 2017 donations.
Giving to Charity
Tax Break for Rollovers From IRAs to Charity Made Permanent
Retirees can once again transfer funds from a retirement account to charity with zero tax consequences. And the new law makes this tax break permanent, so you can now incorporate this strategy into your clients’ long-term plans.
IRS Tries To Require SSNs for Charitable Donations, Congress Acts
New proposed regulations that would permit nonprofit organizations to request Social Security numbers for donations of $250 or more could be stopped dead in their tracks. A new bill introduced in Congress by Senator Pat Roberts (Rep.-KA) would stop ...
5 Income Tax Deduction Tips for Donations to Charity
Donors must get a written acknowledgement from the charity for all gifts worth $250 or more. It must include, among other things, a description of the items contributed.