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The particular tax consequences of a donor's charitable contribution depends on the type of contribution that he makes. A taxpayer may contribute services, cash, or property to a charity. There are a number of traps, especially that donations of short-term capital gains are generally not tax deductible.
Tax-deductible donations include money or goods you contribute to tax-exempt organizations, and your charitable giving can benefit you, too, if you take a charitable contribution deduction. By...
According to J.P. Geisbauer, a Certified Public Accountant (CPA) at CenterPoint Planning, “With [the] standard deductions as high as they are… and the $10K state and local tax deduction ...
By the summer of 1979, the Council of Vietnam Veterans had transformed into Vietnam Veterans of America, a veterans service organization made up of, and devoted to, Vietnam veterans. Bobby Muller and Stuart F. Feldman were among the organization's co-founders. [2] Membership grew steadily, and for the first time, VVA secured significant ...
The deadline for tax-deductible donations for the 2023 tax period is Dec. 31, 2023. ... This may mean the individual will receive a tax refund (money back), if the deduction is large enough.
Donations made to 501(c)(3) organizations are typically tax-deductible for the donors, meaning individuals and businesses can claim those donations as deductions on their tax returns, subject to certain limitations. This tax benefit encourages charitable giving. In contrast, donations made to 501(c)(4) organizations are not generally tax ...
In May 2000, the AFL-CIO executive council voted to dissolve NCSC, and reform the group as the Alliance for Retired Americans. Labor-leaders also wanted to reform the group as a tax-exempt nonprofit to which tax-deductible donations could be made.
Although federal tax law does not allow for political deductions, some state laws may allow for a tax credit or deduction. The donation has to be related to a state-level campaign or candidate.