TaxConnections


 

Tag Archive for charitable donations

Refundable Tax Rates For Charitable Donations

Larry Stolberg

For donations of $200 or less, the federal refundable tax credit is 15%. For donations more than $200, the federal refundable tax credit is representative of the top marginal tax rate of 29% even if you were not in that marginal tax bracket.

Read more

How Much Can You Deduct For Donating Used Goods?

John Dundon

Without a doubt one of the best ways for us middle-class folks to reduce our income tax burden is to donate charitably with intent. Most of my clients find themselves pleasantly surprised at the tax benefits received when they go through the exercise of donating gently used household items to charity.

Read more

Donor Advised Funds IRC §4966

John Dundon

In my last post about how year end tax planning starts with reassessing one’s commitment to charitable donations, I mentioned that my mom donated her appreciated shares of Exon Mobile to a Donor Advised Fund (DAF). Many readers had questions about what a DAF is and the mechanics of donating to one. So much so I was compelled to follow up in this post. Read more

Year End Tax Planning Starts With A Charitable Donation Assessment

John Dundon

How do you plan to give back next year?

The more money we tend to have, the harder it tends to be to share our resources with others. This is true up to the point we start to appreciate the significance of giving back. For many this tipping point comes far too late in life if at all. If you charitably donate or are considering being charitable, how much are you donating? How are you making those donations? Money? In kind? Time? How do you decide what is appropriate?

Read more

General Tax Benefits Of Charitably Giving

John Dundon

Warren Buffet released certain claims made on his 2015 personal income tax return in a statement released by Business Wire, A Berkshire Hathaway Company. It is worth noting his remarkable generosity. Check out these figures:

Read more

TaxConnections