Article Highlights: Charity Auctions Use of an Asset Charity Volunteer Away-From-Home Travel Expenses Entertainment Vehicle Use Uniforms Vehicle Donations Valuing Non-cash Contributions Documentation Charitable contributions are deducted as part of a taxpayer’s itemized deductions on IRS Schedule A, except for the special 2020 and 2021 provisions that allow up to $300 ($600 for married taxpayers filing jointly for 2021) of cash donations as a [...]
Article Highlights: Reverse Mortgages Reverse Mortgage Terms When Is the Interest Deductible? Who Deducts the Interest? Other Options The annual inflation rate in the U.S. accelerated to 7.5% in January of 2022, the highest since February of 1982, hitting those on fixed retirement income, namely seniors, the hardest. On top of escalating living expenses due to inflation, some retirees are faced with a significant [...]
According to one recent study, only about two-thirds of all businesses that open today will survive two years in operation. Roughly half of them will last approximately five years. When you get to 10 years out, that number drops to one-third, according to the Bureau of Labor Statistics. Fascinatingly, a massive 82% of all organizations that end up failing do so for essentially the [...]
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