The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive a charitable donation write-off, you must
charitable contributions Archives - Crawford Ellenbogen
Dec 1, 2022
Feb 24, 2022
The donor-advised fund: A powerful vehicle for charitable giving
- By Joan Ellenbogen
- Charity, Estate
- 0 Comments
If charitable giving is important to you, consider a donor-advised fund (DAF). A DAF — typically sponsored and managed by a community foundation or commercial investment company — offers many of the benefits of a private foundation at a fraction of the cost. Upsides of a DAF A DAF allows you to make tax-deductible contributions
Feb 23, 2022
Did you give to charity in 2021? Make sure you have substantiation
- By Victor Dozzi
- Charity, Taxes
- 0 Comments
If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? It depends. The requirements To prove a charitable
Feb 25, 2021
Did you make donations in 2020? There’s still time to get substantiation
- By Joan Ellenbogen
- Taxes
- 0 Comments
If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2020 income tax return? It depends. What is required To support a charitable