Tax Exempt Organization Filing Deadline Approaching

2023 Taxes, Charity, Tax Planning, Tax Tips

Article Highlights: Information Filing Due Dates Calendar Year Nonprofit Fiscal Year Nonprofits Which Form To File Extension of Time to File Late Filing Penalty Failure To File For 3 Years State Filing Requirements Most…

Don’t Overlook Your Charitable Contributions

Charity, Deductions

Article Highlights: Charitable Itemized Deductions Bunching Deductions Qualified Charitable Distributions Donor-Advised Funds Volunteer Expenses Misconceptions Household Goods and Used Clothing Documenting Charitable…

You May Be Able to Donate Your Unused Employee Vacation, Sick, or Personal Leave to Ukrainian Relief

Charity

Article Highlights: Forgoing Vacation, Sick, or Personal Leave in Exchange for Ukrainian Relief Program Duration Employee and Employer Tax Implications IRS Notice 2022-28 There is a little-known disaster provision of the tax…

Charitable Tax Deduction Peculiarities

2021 Tax Laws, 2022 Taxes, Charity

Charitable Tax Deduction Peculiarities Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A, except for the special 2020 and 2021 provisions that allow up to $300 ($600 for married taxpayers…

Tax Tips for Holiday Charity Donations

Charity, Tax Tips

Article Highlights: Long-Form Itemization Required Below-the-Line Cash Contributions for 2021 Qualified Charities Only Cash Donations Non-cash Donations Leave Donations Other Qualifying Donations AGI Limitations …

Friends of the Children Donation

Charity, Community Involvement

Isler Northwest is proud to support Friends of the Children with a donation of toys and gifts this holiday season! About Friends of the Children In 1993, Friends of the Children opened its doors with three friends serving 24 children.…

Year-End Tips for Charitable Contributions

Charity, Deductions, Tax Planning

As the end of the year and the holiday season approach, we will all see an uptick in the number of charitable solicitations arriving in our mailboxes and by email. Since some charities sell their contributor lists to other charities, frequent…

Donor Advised Funds Provide Tax Benefits

Charity, Gift Tax, Non-Profits, Tax Planning, Tax Tips

If you would like to make a substantial tax-deductible charitable donation this year, but have the ability to spread the actual distribution of funds to specific charities over a number of years, a donor-advised fund (DAF) may fill that need.…

Legitimate Tax-Deductible Charity or Scam?

Charity

With the holiday season approaching, and with the great need for aid in the wake of the recent hurricanes and wildfires, you no doubt are being solicited for donations. However, do not be fooled by the scammers who come out from hiding whenever…

Year-end tax tips for charitable giving this holiday season

Accounting, Charity, Community Involvement, Finance Tips, Tax Tips, Taxes

Article by Jeff Brown | Featured on CNBC.com For most people, giving to charity is simply a matter of goodwill and generosity. But there are tax benefits, and they can be significant. Knowing how to get a tax deduction can allow you to give…