From the IRS: Crowdfunding is a popular way to raise money online. People often use crowdfunding to fundraise for a business, for charity, or for gifts. It's important to know that money raised through crowdfunding may be taxable. Highlights from the IRS Tax Tip If a...
From the IRS: After an emergency or disaster, people rally to help victims by donating money. Unfortunately, this can give criminals an opportunity to prey on them by soliciting donations for fake charities. Scammers may also pose as federal agencies to dupe disaster...
As I remind you in The Best Charities for You, it's up to donors to evaluate charities. Although most charities must register with the IRS and file annual information returns on Form 990, the IRS is not set up to evaluate or monitor charities. Want proof? Not long...
BALTIMORE - December 10, 2021, reported by WMAR2news: "According to the Federal Trade Commission, consumers reported losing $1.6 billion to charity fraud so far this year. The median amount lost is around $1,000." "A Maryland woman said someone knocked on her door...
Special 2021 Note: Individual ($300) and married ($600) filers can take a charitable deduction for 2021 charitable donations, even if they don't itemize (that is, use the standard deduction). A Q&A to help you protect your year-end charitable deductions Question...
All charities are not above average (unlike all the children at Lake Wobegon1). While many charities do strong work with the moneys entrusted to them, others lack focus or management and produce little impact. To boost the impact of your giving, find and support...
Individual are the most powerful force for charity People, individuals, like you and me, all across the U.S. are the most powerful force for charity -- providing more than 80% of the donated dollars. In 2020, individuals as a group were again by far the top givers in...
People, individuals, like you and me, all across the U.S. are the most powerful force for charity. In 2020, individuals as a group were again by far the top givers in the U.S. — directly giving (including bequests) $366 billion (or 78%) of the total. Individuals were...
The Internal Revenue Service has issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2021, the standard mileage rates for the use...
The Internal Revenue Service has issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage rates for the use...