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Document your charitable gift

Amy Praskac - Tuesday, December 20, 2016
You must document a charitable donation if you deduct it on your tax return. The rules are slightly different for donated goods than for financial gifts. When you make a financial gift, you mu ..

The cherry on top of my Thanksgiving

Amy Praskac - Monday, December 19, 2016
It’s Saturday before I have a chance to review the package. I write a check to pay the tax due with filing Form 1041. I write a check to the CPA for preparing the return. I sign Form 8879-F. ..

Verify your charity is eligible

Amy Praskac - Tuesday, December 13, 2016
After you determine a charity is worthy of your donation, verify whether you may deduct your donation on your tax return. Most churches, temples, synagogues, mosques are eligible to receive deduct ..

The mysterious discrepancy

Amy Praskac - Sunday, December 11, 2016
The CPA emails me to say she does not understand why there would be a difference between the January and February statements. She writes, The difference is $13, so I am not overly concerned  ..

The CPA has questions

Amy Praskac - Wednesday, December 07, 2016
A couple of weeks go by before I hear from the CPA again. She’s working on the Form 1041 for the income tax return for the Estate and has questions about an investment transaction. She needs ..

Check up on your charity

Amy Praskac - Tuesday, December 06, 2016
You need to do your homework about your charity to make sure your gift is going to a worthwhile cause and will make a difference. Charity Navigator, a non-profit that rates and ranks charities, pr ..

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