Search results
Results from the WOW.Com Content Network
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.
Car donation is the practice of giving away unwanted used automobiles or other vehicles to charitable organizations. In the United States , these donations can provide a tax benefit to the donor. In the United States
If the organization purpose is one of those described in §501(c)(3) of the Internal Revenue Code, [3] it may apply for a ruling that donations to it are tax deductible to the persons or business entities who make them. The organization itself will be exempt from taxation as long as it does not engage in unrelated business activities.
For premium support please call: 800-290-4726 more ways to reach us
For premium support please call: 800-290-4726 more ways to reach us
Depending on the organization and the type of donation, you might also be able to deduct the donation from your taxes. The IRS lets you claim a deduction for the donations you make to qualified ...
A donor-advised fund has some disadvantages compared to a private foundation, and some advantages. Both can accept donations of unusual or illiquid assets (e.g., part ownership of a private company, art, real estate, partnerships or limited partnership shares), but a donor-advised fund has higher deductions for these gifts (depending on the gift).
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!