It’s TaxQuips time from TaxMama.com® . Today TaxMama® wants talk to you about an issue raised by Jean Mammen, EA. She says that right around now, there is so much going on, helping refugees, the homeless, and others who have experienced adversity. So, let me give you some quick tips about the tax […]
Category Archives: Donations
*Tax Quips, Charities, Child Tax Credit & Additional Child Tax Credit, Contributions, Donations, Donor Advised Funds, Form 2848, Form 8821, Identity theft, Qualified Charitable Distributions, Tax Professionals, Tax Resolution, Transcripts- IRS
TaxMama’s® TaxQuips Goodbye 2021
It’s TaxQuips time from TaxMama.com® – Today TaxMama® wants talk to you about some year-end tips and ideas to get ready for next year. Dear Family, This year is coming to a close remarkably fast. It seems it was just January one blink […]
*AskTaxMama Newsletter, *Tax Quips, Charities, Donations, Donor Advised Funds, IRS News, Qualified Charitable Distributions
TaxMama’s TaxQuips Giving Tuesday
Today is a special day, especially precious to those facing serious challenges this year – it’s Giving Tuesday.
subtitle: Why donations are down – especially vehicles Today TaxMama® wants to talk to you about charitable contributions, especially vehicle donations. How are charitable donations of vehicles affected because of the new tax rules – effective as of December 2017, in the Tax Cuts and Jobs Act – https://www.irs.gov/charities-non-profits/charitable-organizations/irs-guidance-explains-rules-for-vehicle-donations ? The first tax […]
*AskTaxMama Newsletter, *Tax Quips, Casualty loss, Donations, IRS News, Medical, Tax Cuts and Jobs Act, Theft Loss, Trump Tax Act
Introduction to the Trump Tax Plan
Today TaxMama® wishes you a Happy New Year, and brings you some basics about how the Trump Tax Plan will affect this filing season.
*AskTaxMama Newsletter, *Tax Quips, Charities, Crowdfunding, Donations, Gifts, Medical
Crowdfunding for Medical Costs
Today TaxMama® hears from Josh in the TaxQuips Forum with this interesting question, let me re-phrase. “I want to raise money for a family member who is ill, using crowd-funding. What’s the best way to do this with the least tax impact?”
Today TaxMama® hears from GuideForThePoor in the TaxQuips Forum, who has an interesting question. “Suppose your deductions are too low to itemize, but you still want to give money to charity. Can you give the money to a friend who does itemize – and have the friend donate it to charity and get the deduction?” […]
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?https://kidneyurostonecentre.com/wp-content/languages/new/xifaxan.html Is private school deductible at all in the upper grades?”
Today TaxMama® hears from Eliezer in the TaxQuips Forum with this interesting question. “Many non-profit organizations run raffles with great prizes. Sometimes the raffle tickets can get pricey (>$100) and the entrants want to deduct these amounts as charitable contributions to the non-profit organization. Assuming the entrant did not have any winnings, is there any situation […]
Courtesy of the Internal Revenue Service The Internal Revenue Service today issued a consumer alert about possible scams taking place in the wake of Hurricane Sandy. Following major disasters, it’s common for scam artists to impersonate charities to get money or private information from well-intentioned taxpayers. Such fraudulent schemes may involve contact by telephone, social […]
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 […]
Courtesy of the Internal Revenue Service Contributing money and property are ways that you can support a charitable cause, but in order for your donation to be tax-deductible, certain conditions must be met. Read on for six things the IRS wants taxpayers to know about deductibility of donations.