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Charitable Contributions

25Nov

Using IRA Distributions for Charitable Contributions – It’s Not Too Late!

By |November 25th, 2013|Categories: Charitable Contributions|

Have you considered using the funds in your individual retirement account (IRA) to make a charitable contribution? If so, it’s a good idea to follow up on your plans quickly.

16Nov

Retirement Plans Can Make Loans, Hardship Distributions to Sandy Victims

By |November 16th, 2012|Categories: Charitable Contributions|

In an effort to help those impacted by Hurricane Sandy, the Internal Revenue Service announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Sandy and members of their families.

3Nov

IRS Announces Tax Filing and Payment Relief For Victims of Hurricane Sandy

By |November 3rd, 2012|Categories: Charitable Contributions|

As a result of Hurricane Sandy, the Internal Revenue Service announced tax relief to affected individuals and businesses.
Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Connecticut, New Jersey and New York will receive tax relief. Other locations may be added in coming days based on additional damage assessments by FEMA.

26Mar

Charitable Contributions Deduction: Eight Essentials

By |March 26th, 2012|Categories: Charitable Contributions|

Donations made to qualified organizations may help reduce the amount of tax you pay.

The following are eight essential tips to help ensure your contributions pay off on your tax return.

1. If your goal is a legitimate tax deduction, then you must be giving to a qualified organization. Also, you cannot deduct contributions made to specific individuals, political organizations or candidates. See IRS Publication 526, Charitable Contributions, for rules on what constitutes a qualified organization.

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