Tag Archives: Donations

Deductible Day Care

Today TaxMama® hears from Mel  in the TaxQuips Forum, with this reasonable question.  “I have a client who sends their 5 year old to a private Christian school for pre-K. Can this be deductible like daycare? Is private school deductible at all in the upper grades?”

Helping Someone in Need

Today TaxMama® hears from MJ in the TaxQuips Forum who tells us, “We have a friend whose child has been injured, and would like to raise funds for her to help pay for the bills. We cannot afford to file for a non-profit (KY); and don’t know if that’s even necessary for a case like […]

Validating Charitable Contributions

Father O’Malley answers the phone. ‘Hello, is this Father O’Malley?’ ‘It is!’ ‘This is the IRS. Can you help us?’ ‘I can!’

IRS Offers Tips for Year-End Giving

Courtesy of the Internal Revenue Service WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Some of these changes include the following: Special Charitable Contributions for Certain IRA Owners This provision, currently scheduled to expire at the end of […]

275,000 Organizations No Longer Tax Exempt

Courtesy of IRS: IRS Identifies Organizations that Have Lost Tax-Exempt Status; Announces Special Steps to Help Revoked Organizations WASHINGTON –– The Internal Revenue Service today announced that approximately 275,000 organizations under the law have automatically lost their tax-exempt status because they did not file legally required annual reports for three consecutive years. The IRS believes […]

Unused Charity Vouchers

Today TaxMama hears from Alice in the TaxQuips Forum with an interesting concept.  “As a non-profit organization we receive contributions from members and for their generosity we give them vouchers (with dollar amounts) that they can redeem for future events. My question is if we write off these old unused vouchers in our books, can these […]

Exempt Organization News

During yesterday’s IRS Stakeholder Relations meeting, we were treated to some information from Joyce Hoover, IRS’s Exempt Organization Group’s Senior Technical Advisor. She’s been working with exempt organizations for about 19 years…so she’s lived through the history and development of this department.  

Donating Real Estate

Today TaxMama hears from Peggi in the TaxQuips Forum, with this problem. “I have a rental house that is in a distressed area.  I cannot get it rented, it keeps getting broken into.  I can donate the house to the LRA for a tax credit.  Would this be more beneficial than trying to sell it […]

Charitable Donations

The United Way realized that it had never received a donation from the city’s most successful lawyer. So a United Way volunteer paid the lawyer a visit in his lavish office. The volunteer opened the meeting by saying, “Our research shows that even though your annual income is over two million dollars, you don’t give […]