Article Highlights: Noncash Charitable Contributions Establishing Donation Value Fair Market Value Documentation Requirements Appraisal Requirements Tax legislation passed in late 2017 nearly doubled the standard deduction for years 2018 through 2025, and now about 90% of individuals filing a tax return are taking advantage of the higher standard amount and are not itemizing their deductions. For the 10% of filers still itemizing, one of [...]
In the bustling world of small businesses, where every decision can significantly impact your bottom line, overstaffing can be a major problem. One of the main reasons for this is that hiring too many employees can happen before you even realize it – you might be trying to overcompensate for prior staffing issues but end up with too many people on your payroll instead. [...]
Article Highlights: Charitable Deduction AGI Limitations Donations of Unused Employer Time Off Contributions of Appreciated Assets IRA to Charity Contributions Non-cash Contributions Avoiding Fraudulent Charities There are some unique ways to make charitable contributions that can provide tax advantages to the donor. Before deciding about your charitable giving for the year, you may benefit from this article on ways to contribute that will help [...]
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