Saturday March 28, 2015

News

Gifts with Life Income
Gifts with Life Income
Many friends of charity have acquired appreciated property over time. A great way to use this appreciated property is for a...
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Savvy Living - Essential Legal Documents All Adults Should Have
Essential Legal Documents All Adults Should Have
I would like to get my affairs in order. What legal documents are suggested for end-of-life plans? There are four or...
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Washington News - IRS Records for Charitable Deductions
IRS Records for Charitable Deductions
In IR-2015-48, the IRS outlined the required records for substantiating charitable deductions. The basic requirement is that gifts are made to a qualified charity. The Select Check online tool at www.irs.gov shows qualified nonprofits. Even though they are not on the IRS web site, gifts to churches, synagogues, temples, mosques and government agencies are also deductible. Most documentation must be in your possession before filing your tax return. You must itemize deductions on Schedule A of Form 1040 to claim these charitable deductions. 1. Gifts Over $250 – To claim a charitable contribution deduction, donors must get a written acknowledgement from the...
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