Put restrictions on your gifts to ensure that your donations are used to fulfill your intended charitable purposes.

Here’s a strategy for older taxpayers who are philanthropically inclined and also take distributions from their traditional IRAs.

On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are the details. Need for change Gifts in kind can play an important role in ensuring a charity functions effectively. They may…

If you file a joint tax return with your spouse, you should be aware of your individual liability. And if you’re getting divorced, you should know that there may be relief available if the IRS comes after you for certain past-due taxes. What’s “joint and several” liability? When a married couple files a joint tax…

Donors may automatically assume they can deduct the full amount of any charitable contribution. But what if your nonprofit provides goods or services in exchange for donations?

Target high-net-worth donors for significant nonprofit gifts. Use these strategies to discover and engage wealthy philanthropists.

Before you know it, 2024 will be here. But until then, there may still be time to reduce your 2023 federal tax liability by taking these steps.

Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning steps.

When it comes to tangible property donations, value isn’t simply in the eye of the beholder. Generally, you must determine fair market value for tax and financial reporting purposes. Here’s how.

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19).

The CARES Act includes several tax-related provisions to help businesses survive the coronavirus (COVID-19) pandemic.

Charitable contributions aren’t always eligible for tax deductions — even when the not-for-profit recipient is tax exempt and the donor itemizes. Take “quid pro quo” donations. These transactions occur when your organization receives a payment that includes a contribution and you provide the donor with goods or services valued for less than the total payment.…