WASHINGTON — Individuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years, especially those affecting donations of clothing and household items and monetary donations. Rules for Clothing and Household Items To be deductible, clothing and household items donated to charity generally must be [...]
Archive for category Donations
Tips for Year-End Giving
Dec 13
December is traditionally a month for giving generously to charities, friends and family. But it’s also a time that can have a major impact on the tax return you’ll file in the New Year. Here are some “Season of Giving” tips from the IRS covering everything from charity donations to refund planning: Contribute to Qualified [...]
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. 1. Tax-exempt status. Contributions must be made to qualified charitable organizations to be deductible. [...]
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 2011, offers older owners of individual [...]
Tax Reminders
Feb 23
Filing deadlines. The filing deadline for 2010 tax returns for individuals and partnerships is April 18, 2011. The IRS extended the deadline because Washington, D.C. observes the Emancipation Day holiday on April 15. The deadline for calendar-year corporations to file 2010 returns is March 15, 2011. Extension requests can be filed, giving individuals and corporations [...]
