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SeriousGivers.Org (SGO) has just issued an eye-opening report on donation of cars to charity. The SGO report spells out important questions you should consider before donating a car. It also examines the overall benefits — and shares conclusions on whether a donation will be a win, loss or draw. Among other things, the SGO [...] The IRS just published a handy list of eight tips for deducting charitable contributions. Why not print it out and keep it with your charitable contributions “stuff” — and take a look at it before you make a donation? IRS Tip #1 — make sure you are giving to a charity. You can use [...] Much more information on charity volunteer mileage rates and what a volunteer can deduct is now available at SeriousGivers.org at the “What can a charity volunteer deduct?” page. Go there for ongoing coverage (comments are closed on this page).
Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: Thousands of nonprofits that have been failing to file their annual IRS information returns are about to lose their tax-exemption. They can’t say “nobody told me!” The IRS has gone out of its way to help smaller nonprofits maintain their tax-exempt status. The latest warning offers a last chance, until October 15, 2010. Read [...] A while back we posted a sample charity conflicts of interest policy, along with the background on the IRS request for information on such policies. Feedback has suggested that some groups want a simpler policy — so we’ve created one and now make it available as a public service: Conflicts Policy – Simplified. As [...] The IRS has issued an updated guide for donors and charities, spelling out the contribution deduction rules. Publication 1771 — with the not-so-jazzy title “Charitable Contributions, Substantiation and Disclosure Requirements” — provides a solid, plain-language statement of the recordkeeping, proof and disclosure rules. A must-have for every any donor who wishes to deduct donations [...]
Does your favorite charity have a written conflict of interest policy? IRS Form 990 asks charities whether they have such a policy. While having one isn’t required by the Internal Revenue Code, the Form 990 question is a pretty strong suggestion that a charity have such a policy in place. We agree wholeheartedly with the suggestion. The IRS has gone so far as to include a sample policy in Appendix A to Form 1023 (application for tax exemption). IRS Sample Conflicts Policy We’ve also attached a sample policy we created Continue reading “Charity conflict of interest policy sample” Small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program announced by Internal Revenue Service. Is your favorite nonprofit one of them? The IRS has made the list available to the [...] The IRS has released a summertime warning on top tax-related scams. Abuse of charitable organizations and deductions grabbed 4th place, in the company of phishing, return preparer fraud, hiding income offshore and frivolous arguments. Elaborating on charity abuse, the IRS reported The IRS continues to observe the misuse of tax-exempt organizations. This includes arrangements [...]
You can do it in three steps:
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Copyright © 2012 Edward W. Long | The Smarter Giving Guy | All Rights Reserved |
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On December 3, the Internal Revenue Service issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. 
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