Charitable Contributions

Nine Tips on Deducting Charitable Contributions

Giving to charity may make you feel good and help you lower your tax bill. 1. If you want a tax deduction, you must donate to a qualified charitable organization. You cannot deduct contributions you make to an individual, a … read more

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

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

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

Six Year-end Tips to Reduce 2011 Taxes

The IRS wants to remind all taxpayers that with the New Year fast approaching, there is still time for you to take steps that can lower your 2011 taxes. However, you usually need to take action no later than Dec. … read more

Reminders on Holiday-season and Year-end Giving

As a follow-up to the blog posted yesterday, here are some reminders from the IRS to help taxpayers plan their holiday-season and year-end giving: • Contributions are deductible in the year made. Thus, donations charged to a credit card before the … read more

Schedule A Audits

Have you received correspondence from the IRS auditing your Schedule A?  The audit can be narrow, i.e. limited to charitable only, or broad, i.e. all deductions claimed on Schedule A.  Following are some tips to assist you. Quick books and … read more

Charitable Contributions through Loan Forgiveness

During a recent Internal Revenue Service examination, the agent questioned the deductibility as a charitable contribution the amount of a loan that the taxpayer forgave to a charitable organization. In fact, the agent indicated that he had discussed the issue … read more

Making Charitable Contributions through Donor Advised Funds

Donor advised funds allow a taxpayer to put money in diversified investments, take an immediate charitable deduction and recommend where grants should go later.  Mutual funds, such as Vanguard and Fidelity, local community foundations, universities and other organizations operate such … read more


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There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.


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