Monthly Archives: April 2015

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Take stock: make a huge difference to your favorite charity and save yourself lots of $$$

It bears repeating: an ideal asset for a charitable donation to your favorite nonprofit is stock. To be more specific, appreciated publicly traded stock that has been held for more than one year. You can receive a double federal tax benefit for gifts of stock. Under federal tax law, the [1] long-term capital gain is… Read more »

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Charitable deduction requirements for noncash gifts of more than $5,000

Each day, from April 15, 2015, to April 15, 2016, I’m providing a tax tip to help you prepare well for Tax Day. Today, let’s discuss federal income tax charitable deduction requirements for noncash gifts of more than $5,000. Requirements for “qualified appraisal” and “qualified appraiser” Noncash gifts of more than $5,000 in value, with… Read more »

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Substantiation of gifts of $250 or more, tax tip 5/365

Happy Monday to all. Here’s a new tax tip. A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income tax. But there are record keeping requirements to claim the charitable deduction. Substantiation of gifts of $250 or more For any contribution of either cash or property of… Read more »