Churches, synagogues, and other religious congregations aren’t required to file tax returns, so they might not regularly hire independent accountants. But regardless of size, religious organizations often are subject to other requirements, such as paying unrelated...
With the dawn of 2019 on the near horizon, there are many items that you need to take care of before the end of 2018. here’s a quick list of tax and financial to-dos you should address before the end of the year. Check your FSA balance. If you have a Flexible Spending...
A tried-and-true year-end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term appreciated stock...
Because donations to charity of cash or property generally are tax deductible (if you itemize), it only seems logical that the donation of something even more valuable to you — your time — would also be deductible. Unfortunately, that’s not the case. Donations of time...
Your not-for-profit probably already ensures that donors receive a receipt with information about claiming a charitable contribution deduction on their tax return. But your obligations may go further than that. For noncash donations, you might have responsibilities...
Individuals can deduct some vehicle-related expenses in certain circumstances. Rather than keeping track of the actual costs, you can use a standard mileage rate to compute your deductions. For 2017, you might be able to deduct miles driven for business, medical,...
Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give. Here are some important considerations to keep in mind this year to ensure you...
The year is quickly drawing to a close. But there’s still time to take steps to reduce your 2017 tax liability, as long as you act by December 31st. Here are a few tried-and-true year-end tax planning tips for those who normally itemize their deductions: Pay your...
What are you doing November 28? If that date doesn’t ring a bell, your not-for-profit probably hasn’t made plans to participate in National Giving Tuesday. But considering the opportunities associated with it, maybe it should. What is Giving Tuesday? Giving Tuesday,...
Charitable giving allows you to help an organization you care about. And in most cases, you enjoy a valuable income tax deduction. If you’re considering a large gift, a noncash donation such as appreciated real estate can provide additional benefits. For example, if...
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