What if you had the chance to win an award of excellence for your outstanding contributions to art, community service, or science? Do you have to pay income tax on this amount? The...
It is the last day of 2020, and the IRS encourages taxpayers to take the necessary steps in the final days of the year to file federal tax returns in a timely and correct manner before...
Several charities are experiencing a drop in donations as the United States grapples with the COVID health crisis. In response, Congress included a clause in the CARES Act, designed...
One way to reduce your taxable income and lower your tax bill is to donate to qualified charities. This involves itemizing deduction to qualify to claim it. The only condition where...
Charitable deduction can be defined as those deductions which the tax payers have to pay when they donate money to any kind of charity. The charity must qualify for these deductions...
Posted by Advantage Tax Service on 10/26/2018
Charitable deduction is particularly the donation and contribution to charity with the deductions for the tax payers. The charitable deductions will permit the tax payers to deduct...
Posted by ALJ Business Services,LLC on 10/26/2018
Charitable deduction is the contribution and donation to charity with deductions for tax payers. Charitable deductions allow the tax payers to deduct the contributions they do to qualify...
Posted by CONTINENTAL TAX AND ACCOUNTING SERVICES on 07/16/2018
Investors do not typically choose their investments based on their potential tax liability. However, during the tax filing season, all your investments and dividends will now play...
When we are making charitable donations, especially if they are larger donations of property or taxes, it can be easy to meet any necessary requirements to be able to take advantage...