charitable giving Archives - BeachFleischman CPAs

Donating your stimulus check: How to make a tax-deductible donation

May 6, 2020 January 22, 2021 Tax Department COVID-19, Tax Bites CARES, charitable giving, COVID-19, donations, stimulus check, tax exempt organizations

Stimulus checks are already arriving in mailboxes and bank accounts, but not everyone who receives a stimulus check needs the money. Part of the recent CARES Act, these stimulus checks include $1,200 for single filers or $2,400 for joint filers, plus $500 for each dependent child under age 17. The amount of the payment is[ … ]

Can you deduct charitable gifts on your tax return?

January 22, 2020 November 24, 2020 Tax Department Tax Bites charitable deductions, charitable giving, tax deductions, TCJA

You may assume that if you make a charitable contribution to an eligible organization, you’ll receive a tax break for it. That may not be the case anymore. Here’s why.

Protect your deduction: Verify before you donate

December 7, 2015 Tax Department Tax Bites charitable deductions, charitable giving, exempt organizations select check, political donations, tax, tax-deductible contributions

Verify that a charity is eligible to receive tax-deductible contributions before you donate Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. But before you donate, it’s critical to make sure[ … ]