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 … Continue reading
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 … Continue reading
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 … Continue reading
As we say in our Savvy Donor series, 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 … Continue reading
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 … Continue reading
You know that the EIN (Employer Identification Number) is the unique identifier for any nonprofit registered with the IRS. EIN checking is more precise than DNA testing. And the EIN is the gateway to information about the nonprofit, with the … Continue reading
