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Is your favorite nonprofit up-to-date on requirements for the federal income tax charitable deduction? You want to be able to ensure your donation maximize benefits for both you as a donor and the charity. Consider the following considerations and requirements. Save $$$ and help your favorite charities even more I always say, it’s better to […]
Save $$$ and help your favorite charities even more. Some say it’s better to give than receive. I say, it’s better to give and receive. You can both give and receive by using the federal income tax charitable deduction. A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income […]
I say, it’s better to give and receive. You can both give and receive by using the federal income tax charitable deduction. A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income tax if you itemize deductions. Assuming the gifts are deductible, the actual cost of your gift is […]
How to Avoid Income Taxes on $100,000 While Supporting Your Favorite Charity The Individual Retirement Account (IRA) charitable rollover allows individuals aged 70.5 years of age and older to donate up to $100,000 from their IRAs directly to charities, without having to count the distributions as taxable income. This gift transfer is called a qualified […]
On January 27, Gordon Fischer participated in a Des Moines Register panel on smart charitable giving. The event was hosted by the Register‘s Reader Watchdog, Lee Rood. Read about it here.
March 7, 2024 Born on this day in 1998, Amanda Gorman was just 22 years-old when she became the youngest U.S. inaugural poet at the 2021 swearing-in of President Joe Biden. She has said that she drew inspiration for her poem, “The Hill We Climb,” from Abraham Lincoln, the Rev. Martin Luther King Jr., and […]
ABOUT THE NFL PLAYOFFS, I CAN PREDICT ONE THING WITH ABSOLUTE CERTAINTY: ALL IOWA NONPROFITS CAN LEARN AN IMPORTANT LESSON! For the twelve formidable teams who made the playoffs, it’s the culmination of incredibly hard work towards a singular goal. It’s been a grueling schedule with tons of variables from pre-season training camp to the […]
I CAN PREDICT ONE THING FOR CERTAIN: ALL IOWA NONPROFITS CAN LEARN A VERY IMPORTANT LESSON! For two formidable teams (Washington Huskies versus Michigan Wolverines in the College Football National Championship), it’s the culmination of a season. It’s been a grueling schedule with tons of variables from pre-season training camp to the regular season kick-off […]
Imagine I’m working with a great new client named Daphne. She wants to found a nonprofit organization to assist at-risk youth in her local community and across Iowa. This is a hypothetical memo I would send to Daphne outlining the steps of what it takes to form a nonprofit in the state of Iowa. (Note, […]
Tax-exempt organizations need to have specific guidelines in place to be compliant and in order to meet the IRS’ expectations. It’s never too late (or early!) to invest in comprehensive internal and external policies and procedures. That’s why I’m offering the Nonprofit Policy: 10 for 990 special. You don’t have to feel overwhelmed or burdened […]