Category Archives: Non Profits

Bunch Charitable Contributions through Donor-Advised Funds

The TCJA temporarily increases the limit on cash contributions to public charities and certain private foundations from 50% to 60% of AGI. However, the standard deduction has almost doubled. Combined with the capping of the state and local tax deduction … Continue reading

Posted in Charitable Organizations, Non Profits, Personal Taxes, Planning Strategies, Tax Deductions, Tax Law Changes, Tax Tips, Taxes, Year End | Tagged , , , , , , ,

IRS Issues Standard Mileage Rates for 2019

The following article was published by the IRS. The Internal Revenue Service has issued the 2019 optional standard mileage rates used to  calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. … Continue reading

Posted in Charitable Organizations, Corporate Taxes, IRS, Non Profits, Personal Finance, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Tips, Taxes | Tagged , , , , , , , ,

Charities Can Visit IRS.gov for Tools and Resources about Taxes

Charitable organizations and other tax-exempt groups can visit IRS.gov for resources that will help them meet their tax obligations. Here is a list of resources with links to the information on IRS.gov:

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Many tax-exempt organizations must file information returns by May 15

The following article was published by the IRS. The Internal Revenue Service reminded certain tax-exempt organizations that the Tuesday, May 15 filing deadline for Form 990-series information returns is fast approaching. Form 990-series information returns and notices are normally due … Continue reading

Posted in Accounting, Charitable Organizations, Non Profits, Planning Strategies, Tax Tips, Year End | Tagged , , , ,

Gifts to Charity: Six Facts About Written Acknowledgements

Throughout the year, many taxpayers contribute money or gifts to qualified organizations eligible to receive tax-deductible charitable contributions. Taxpayers who plan to claim a charitable deduction on their tax return must do two things: Have a bank record or written … Continue reading

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Beware of Fake Charity Scams Relating to Hurricane Harvey

The following article was published by the IRS. The Internal Revenue Service today issued a warning about possible fake charity scams emerging due to Hurricane Harvey and encouraged taxpayers to seek out recognized charitable groups for their donations. While there … Continue reading

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2017 Standard Mileage Rates for Business, Medical and Moving Announced

The following article was published by the IRS. The Internal Revenue Service has issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. … Continue reading

Posted in Bookkeeping, IRS, Non Profits, Personal Taxes, Planning Strategies, Taxes | Tagged , , , , ,