Tag Archive: Charitable Deductions

Pay attention to the IRS rules for charitable deductions

Written by October 10, 2014

As the year draws to a close, you may decide to donate cash or property to one or more worthy causes. Besides the satisfaction of helping others, there’s another reward for your benevolence: a tax deduction on your 2014 return. But the IRS recommends that you keep the following points in mind: 1. You may only deduct contributions made to...

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House Passes Bill Making Charitable Deductions Permanent

Written by July 22, 2014

The bill, known as the America Gives More Act of 2014, passed by a vote of 277 to 130, despite complaints from some lawmakers that the loss in tax revenue was not offset. Among other items, the Bill would make permanent the IRA charitable rollover and enhanced deductions for the donations of food inventory and conservation easements, all of which...

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