Monthly Archives: May 2015

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Even LeBron James can’t do this.

Let’s say you are LeBron James. And you/Lebron, volunteer often for your favorite charity. Can you deduct the value of your services? No, not even a superstar athlete can deduct the value of his services. The IRS does not allow a charitable deduction for volunteering your time. However, out of pocket expenses relating to volunteering… Read more »

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Saving o’ the green: a case study

Famous Irish writer Oscar Wilde said, “I have the simplest tastes. I am always satisfied with the best.” Here are a few of my best ideas about stretching your charitable dollar. Why not give now, rather than later? Let me tell you about my imaginary friend, Aideen O’Murphy. Aideen intends to donate to charity eventually, at… Read more »

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Composer Wagner’s birthday & the “quid pro quo” rule

A charitable donation is deductible to the extent the donation exceeds the value of any goods or services received in exchange. So what happens when you donate to your favorite charity and receive something tangible in return? This is the issue of “quid pro quo” in charitable gift law. Quid pro quo (“something for something”… Read more »