Proving Noncash Charitable Contributions

April 26th, 2016

One of the most common tax-deductible charitable contributions encountered is that of household goods and used clothing. The major complication of this type of contribution is establishing the dollar value of the contribution. According to the tax code, this is the fair market value (FMV), which is defined as the value that a willing buyer […]

Don’t Be Scammed By Fake Charities

December 8th, 2015

Article Highlights: Scammers and charitable contributions How to check on legitimate charities Disaster scammers As the end of the year approaches, you will probably be besieged by requests from charitable organizations for contributions. The holiday season is the favorite time of the year for charities to solicit donations. But you should be aware that it […]

Should You Itemize Your Deductions for Taxes?

August 25th, 2015

Article Highlights: Who Qualifies for the Standard Deduction Who Is Not Allowed to Use the Standard Deduction Income Limitations for Itemized Deductions Phase-out of Itemized Deductions Looking ahead to the filing season for this year’s tax returns, a frequent question is whether you should keep track of tax-deductible expenditures or simply settle for the standard […]

Will Your Deductions Be Cut to Solve Deficit Woes?

October 11th, 2011

The Joint Select Committee on Deficit Reduction (JSC) is set to convene soon with the goal of reducing the deficit by $1.5 trillion. How will they come up with that amount? Some sources think they may consider fundamental tax changes that include cutbacks to itemized deductions for individuals. Although both parties purport to be against […]

Tools

Tax Updates & Business e-Newsletter

January 25, 2010
by: James • Tools

Free Online Personal Financial Software

October 17, 2008
by: James • Tools