charitable contribution Archives -

FOLLOW IRS RULES TO NAIL DOWN A CHARITABLE TAX DEDUCTION

By QuickBooks Expert|2023-10-26T09:28:53-04:00November 27th, 2023|Accounting and Auditing, Business, Taxation|

Donating cash and property to your favorite charity is beneficial to the charity, but also to you in the form of a tax deduction. However, to be deductible your donation must meet certain IRS criteria. First, the charity you’re donating to must be a qualified charitable organization, with tax-exempt status. A tool on the IRS [...]

PUMP THE BRAKES BEFORE DONATING THAT VEHICLE TO CHARITY

Many people might consider donating their vehicles to charity at year end to start the new year. Why not get a fresh ride and a tax deduction, eh? Pump the brakes – this strategy doesn’t always work out as intended. Donating an old car to a qualified charity may seem like a hassle-free way to [...]