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#GivingTuesday

by Melissa Rager

During this time of year, organizations make a big push for last minute donors. After all, it is the charitable season and a time when many of us feel the most generous. One of the biggest struggles that nonprofit organizations face today is the ability to retain donors, as well as find new ones. Four […]

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Protect your deduction: Verify that a charity is eligible to receive tax-deductible contributions before you donate

by Melissa Rager

Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. But before you donate, it’s critical to make sure the charity you’re considering is indeed a qualified charity — that it’s eligible […]

Posted in Audit & Tax Talk | Comments »

The 529 Savings Plan: A Tax-Smart Way to Fund College Expenses

by Melissa Rager

If you’re saving for college, consider a Section 529 plan. Although contributions aren’t deductible for federal purposes, plan assets can grow tax-deferred. (Some states do offer tax incentives for contributing.) Distributions used to pay qualified expenses (such as tuition, mandatory fees, books, equipment, supplies and, generally, room and board) are income-tax-free for federal purposes and […]

Posted in Audit & Tax Talk | Comments »

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