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Tax-deductible donations include money or goods you contribute to tax-exempt organizations. Plus, your charitable giving can benefit you if you take a charitable contribution deduction.
The IRS has an official list of organizations that are considered qualified charities in Publication 78, and only donations to those organizations can be deducted on your taxes.
The complication of applying tax codes and the risk of being taken advantage of by paid tax preparation services is diminished with the presence of over 4,000 nation-wide VITA sites. One of the focal points of VITA is raising taxpayer awareness and receipt of the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC).
The cash proceeds after liquidating the depreciated asset may of course be donated to charity and deducted following the sale, but the tax advantages of making such donation are no better or worse than in any cash donation to charity. In any case, such a course leaves the investor more after-tax assets to donate if so inclined.
The donor-advised fund is one of the most tax-efficient ways to donate money to charity, which has helped it become the fastest-growing charitable giving vehicle in the U.S., according to Fidelity ...
Charity Engine is a free PC app based on Berkeley University's BOINC software, run by The Worldwide Computer Company Limited. The project works by selling spare home computing power to universities and corporations, then sharing the profits between eight partner charities and periodic cash prize draws for the users; [1] those running the Charity Engine BOINC software on their home computers.
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VITA offers free tax preparation for moderate- to low-income individuals who make $60,000 or less, disabled individuals, senior citizens, or those who have a language barrier. Last year, the AGI ...
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related to: donate my computer to charity for cash free tax preparation