/Tag: tax and charity

Travel, Be Charitable, and Lower Your Taxes

By |2017-05-24T13:42:23+00:00July 28th, 2014|Categories: Tax Planning|Tags: , , , , |

Charitable work while traveling and maximizing your tax deductions does not need to be mutually exclusive.The IRS recently posted certain tips about how to leverage your summer travel with charitable activity.

Estate Planning Back on Track

By |2017-05-24T13:42:32+00:00July 10th, 2013|Categories: Articles, Estate & Trusts, Tax Planning|Tags: , , |

Some individuals were in a panic late last year as the favorable estate and gift tax rules were set to expire in 2013. With Congressional action uncertain, no one knew how their plans might be affected. Good News... Estate Rules Marginally Changed To the relief of tax payers and planners, most of the estate rules [...]

Key Charitable Donation Rules

By |2017-05-24T13:42:42+00:00July 30th, 2012|Categories: Articles, Tax Planning|Tags: , , , , , , , , , |

I recently wrote about the strict tax rules around charitable contributions. See Charitable Contributions and Tax Deductions. Below is a synopsis of the most frequently encountered charitable donation rules: Cash Contributions. No matter how small the amount, you need: A canceled check, credit card statement, or other banking record; or A receipt or other written [...]

Charitable Contributions and Tax Deductions

By |2017-05-24T13:42:42+00:00July 25th, 2012|Categories: Articles, Tax Planning|Tags: , , , , , , |

When it comes to the tax code, some documentation requirements are flexible, while others are dictated by law and there's no exception. A recent Tax Court case illustrates the importance of following the strict charitable contribution rules. Facts of the Case. David and Veronda Durden filed a joint return for 2007 claiming a deduction of [...]

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