Question #1: You use your credit card to donate to a qualified charity on December 31 this year. You don't pay the credit card bill until January next year. For which year do you get to take the charitable contribution deduction on your federal (IRS) income taxes? Of...
Give and Grin. If you are age 70½ (70.5) or older you can donate from your IRA directly to the Qualified Organization (see below) of your choice -- tax-free! This special IRA donation rule allows you to give up to $105,000 in a calendar year. $105,000 is a $5,000...
Individuals (that's you, me, our friends, our neighbors) donate more than $366 billion to charities a year (direct giving (including bequests) in 2020). And that doesn't even include what individuals give through family foundations. Individuals as a group are by far...
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...
Patty and I have entered an exciting new chapter of our lives: We've moved from Southern CA to Portland, OR. It's hard for us to believe that we'd been in Southern CA for 40 years. During that time we got to know and connect so many talented and caring people. The...
Here's my story of end-of-life care for my Dad and Mom in Syracuse, NY. That experience helped inspired us to help create Caring House, the amazing end-of-life care home in Torrance, CA. https://youtu.be/-nPcDFOnaYs
The Internal Revenue Service has issued the 2022 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, 2022, the standard mileage rates for the use...
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...
