In order to be considered tax-deductible your donation must meet a few restrictions: 1. You actually have to donate the cash or property; a pledge or promise to pay does not count as a deduction until it is actually paid. 2. You must itemize your return in order to claim the deduction. Taxpayers taking the standard deduction cannot deduct charitable contributions. 3. You have to meet the IRS’ record keeping requirements, and will need to keep all receipts, canceled checks, acknowledgement letters, and appraisals for donated property. Cash Donations All monetary contributions made either by check, money order, credit card, or electronic funds transfer, etc. to qualified nonprofit groups can be deducted on your tax return. Just be sure that you have adequate records for all contributions. ]]> Non-Cash Donations Read the Rest…
Charitable
Charitable Fundraising with Free Video Email
It is evident that video emailing has changed the face of communication in the business and personal spheres. It is one the simplest and most effective ways to get your message across. You can maintain an almost face to face connection with the recipient, through this multimedia and multi-sensory medium. One of the greatest uses of free video email is that it can be used as an effective fundraising tool for charity purposes. The ease means almost anyone can do it and the fact that it’s free through some reputed apps and service platforms means it will not bust your budget like other means. Small, mid-sized as well as big non-profit organizations around the world are warming up to the video emailing trend and featuring them in many of their Read the Rest…
Budget 2007: Charitable Giving Made Easier
With the introduction of the 2007 Federal Budget, there are significant changes ahead for high net-worth individuals who plan to use private foundations as part of their personal tax planning. Charitable donations have always been a great tax minimization tool, the donor receives a tax credit in the amount of the donation to be used against his or her tax liability. Donating to a private foundation, however, has the added benefit of control. In a private foundation, the donors are usually also directors, trustees, or officers of the foundation, and thus the donors will usually have direct control over the use of their donations. They can control which charitable uses their donations are put to, and what other charities will later receive their donations. Donors may wish to contribute Read the Rest…
Allah Loves (7) the Charitable
Verse 3:134 says that Allah loves the charitable. In order to appreciate verse 3:134, it is better to go through the three verses before it. In verse 3:131, there is a warning for the disbelievers who reject faith. It says: Guard yourselves against the fire prepared for unbelievers. In verse 3:132, there is a commandment for those who are looking to have mercy. It says: And obey Allah and the messenger (Muhammad); that ye may obtain mercy Verse 3:133 mandates us to be quick in the race for forgiveness from your Lord and for a very wide garden (paradise) prepared for the cautious, the righteous and those who guard against evil Then verse 3:134 tells us who are cautious, the righteous and those who guard Read the Rest…
