We are now in the middle of a two-year window of an opportunity for you to transfer wealth to other individuals. The three opportunities are as follows: Annual Exclusion Gifts – You can give up to $13,000 per year to as many people as you like. The individual does NOT have to be a family […]
Archive for taxes – Page 6
DEDUCTING CHARITABLE DONATIONS – WHAT YOU NEED TO KNOW
Deducting Charitable Contributions may help reduce you tax burden if you keep good records and have the information that is needed should you be audited. A legitimate deduction must be given to a qualified organization. You CANNOT claim a deduction made to a specific individual, political organizations or candidates. To use this deduction you must […]
Opportunities for Public Charities
Public charities such as churches can increase their assets over the long term by offering their congregation the opportunity to donate to the church and earn income at the same time. The public charity sets up a “pooled income fund.” The individual donates to the church (tax deduction for the taxpayer at the time the donation […]