Charitable Contributions
IRS Offers Tax Tips for “Giving”
December is traditionally a month for giving generously to charities, friends and family. However, these suggestions also apply once the seasons change and move from the Season of Giving to the Season of Tax. Here are some “Giving” tips from … read more
Special Opportunity for Charitable IRA Rollover Gifts
H.R.8, the “American Taxpayer Relief Act” provides a special opportunity for Charitable IRA Rollover Gifts in 2012 if they are made in January of 2013. The new tax law which has been signed by the President extends the Charitable IRA … read more
Making sure Your Charitable Contributions are Deductible
“I’m never going back to that CPA-they told me my contribution was not deductible” was not what I expected to hear as I rounded the corner to the locker room after a morning workout. Of course, when I heard this … read more
Can You Carry Over Your Charitable Contributions?
Do you make charitable contributions because you get a tax deduction or do you make them because you believe in the mission of the nonprofit organization? Or is the real answer somewhere in between those two? Regardless of your answer, … read more
Arizona Military Family Relief Fund
Many people have not heard about this charity that supports Arizona military families in need. Not only does this charity exist, the state of Arizona offers taxpayers a dollar-for-dollar reduction in your tax owed. I have been a tax accountant … read more
Are you a Volunteer that Wants to Claim Income Tax Deductions for Your Services?
In a recent highly publicized Tax Court case, Van Dusen v. Commissioner, and apparently the first to consider the issue, the taxpayer prevailed against the IRS in claiming charitable income tax deductions for unreimbursed expenses incurred for her foster care … read more
Now Schedule D Looks Different Too!
On my last official night of VITA (Volunteer Income Tax Assistance) volunteer teaching, I brought in treats. Popcorn treats. It was most assuredly the highlight of the evening. It was on a night when it had been pouring rain here … read more
VITA Volunteers Learn that Numbers are More Exciting than Theory
I am always so pleased when I am teaching something over a series of different days and I have returning students. It is just the bit of confidence booster that an instructor needs to get through the evening. I prefer … read more
VITA – What Do You Mean I Said That?
Once again, I am teaching VITA (Volunteer Income Tax Assistance) volunteers the fun and frustration of tax law. Well, that statement may be a bit ambitious – I am teaching the test that volunteers are required to pass (with a … read more
VITA – Instruct the Instructor was Instructive
Once again, I have volunteered to work through the Valley of the Sun United Way to be a VITA (Volunteer Income Tax Assistance) instructor. Once again, I forwent (forgoed? what is the correct word?) doing laundry on a Saturday morning … read more