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Charitable Contribution

How Charities Get You to Give More – Heart-Rending Stories Are Only Part of It

How Charities Get You to Give More – Heart-Rending Stories Are Only Part of It

How Charities Get You to Give More – Heart-Rending Stories Are Only Part of It, as reported in the WS Journal. Researchers are using controlled experiments and psychological testing to better understand why people feel compelled to donate to a charity—or give it a pass. Some of their findings turn conventional charity wisdom on its […]

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Congress Extends Charity IRA Rule Through Dec. 31 – Provision Is Retroactive to Jan. 1, 2014

Congress Extends Charity IRA Rule Through Dec. 31 – Provision Is Retroactive to Jan. 1, 2014

Congress Extends Charity IRA Rule Through Dec. 31 – Provision Is Retroactive to Jan. 1, 2014, as reported in the WS Journal. Congress has reauthorized tax breaks for charitable transfers from individual retirement accounts for 2014, but eligible taxpayers must move quickly if they want to make such gifts: The provision expires again as of Jan. 1, […]

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Who gives and who gets donations to charity

Who gives and who gets donations to charity

Who gives and who gets donations to charity – The holiday season is a smart time to take a closer look at nonprofits – O.C. has 11,000, as reported in the OC Register. The good news: Americans donated a whopping $316.2 billion to nonprofits last year, up 3.5 percent from the year before. The not-so-good […]

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How not to be a sucker when giving

How not to be a sucker when giving

How not to be a sucker when giving. The year-end holidays lend themselves to religious and moral reflection that inspires people to reach out to those who are less fortunate, nonprofit watchdog Charity Navigator says. Donors also need to make their end-of-year giving decisions by Dec. 31 to qualify for a tax deduction in this […]

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GOP Demands More Answers on IRS Targeting

GOP Demands More Answers on IRS Targeting

All over the news, Congressional Republicans pledged to fully investigate the admission by the Internal Revenue Service that some of its staff had targeted tea-party affiliated groups seeking permission to be awarded tax-free status.  House Majority Leader Eric Cantor, Republican of Virginia, said the House would investigate, while Senate Minority Leader Mitch McConnell, Republican of Kentucky, […]

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Nine Tips on Deducting Charitable Contributions

Nine Tips on Deducting Charitable Contributions

Giving to charity may make you feel good and help you lower your tax bill. The IRS offers these nine tips to help ensure your contributions pay off on your tax return. 1. If you want a tax deduction, you must donate to a qualified charitable organization. You cannot deduct contributions you make to either […]

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Tax-Free Transfers to Charity Renewed For IRA Owners 70½ or Older; Rollovers In January 2013 Can Still Count For 2012

Tax-Free Transfers to Charity Renewed For IRA Owners 70½ or Older; Rollovers In January 2013 Can Still Count For 2012

Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for tax-year 2012, per the recent announcement of the Internal Revenue Service.  We previously blogged on this subject in IRA Charitable Rollover is Back. IRA owners age 70½ or older have until Thursday, […]

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Donate Gifts Not Wanted

Donate Gifts Not Wanted

As reported in the news in the WS Journal, donating gifts not wanted serves multiple purposes. Here’s some good advice. Forget returning or repurposing. Be charitable with your unwanted holiday gifts. TheGivingEffect.com partners with more than 1,600 charities in need of a variety of merchandise, including clothing, books, toys, appliances, audio and video equipment, gift […]

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IRA Charitable Rollover Is Back

IRA Charitable Rollover Is Back

As reported in the news in the WS Journal, our old friend the IRA Charitable Roller is Back in force thanks to the recent legislation in the “fiscal cliff” deal.  And there still is time for some people this month to take advantage of the rule for 2012.  Charitable rollovers can be made in January […]

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IRS News: e-News for Charities and Non-Profits, PTINS, Online tools, Regulations and other good things to know!

IRS News:  e-News for Charities and Non-Profits, PTINS, Online tools, Regulations and other good things to know!

The IRS sent out an e-News for Charities and Non-Profits, and made other announcements, all of which is good news and things to do before year end.  Here’s the announcement. Issue Number: 2012-20 Inside This Issue IRS and Treasury issue final regulations on the fee on certain issuers and plan sponsors Proposed regulations issued on […]

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IRS Offers Tips for Year-End Giving

IRS Offers Tips for Year-End Giving

As announced in IRS Newswire, Issue Number: IR-2012-102, individuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years, especially those affecting donations of clothing and household items and monetary donations. Rules for Clothing and Household Items To be deductible, clothing and household items […]

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Tax Court Alert: Civil Fraud Penalty Assessed Against IRS Tax Compliance Officer

Tax Court Alert:  Civil Fraud Penalty Assessed Against IRS Tax Compliance Officer

Editor’s Note:  as a regular reader of recent decisions from the U.S. Tax Court, I found the case of Quinn v Commissioner, T.C. Memo. 2012-178, to be terribly interesting.  The reason it is disturbing is due to the fact that the taxpayer wife has been employed since the 1990s as an IRS tax compliance officer, […]

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Deducting Charitable Contributions: Eight Essentials

Deducting Charitable Contributions: Eight Essentials

Deducting Charitable Contributions: Eight Essentials IRS Tax Tip 2012-57 Donations made to qualified organizations may help reduce the amount of tax you pay. The IRS has eight essential tips to help ensure your contributions pay off on your tax return. 1. If your goal is a legitimate tax deduction, then you must be giving to […]

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California Personal Income Tax – Charitable contribution deduction allowed on appeal against California Franchise Tax Board

California Personal Income Tax – Charitable contribution deduction allowed on appeal against California Franchise Tax Board

In an opinion not to cited as precedent, the taxpayers prevailed against the Franchise Tax Board.  In Appeal of Howard and Ann Katz, SBE, Dkt. No. 523741, 10/25/2011, the taxpayers were entitled to the additional amount of the charitable contribution deduction claimed since the Franchise Tax Board (FTB) conceded that the taxpayers had enough basis […]

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IRS Releases the Dirty Dozen Tax Scams for 2012

IRS Releases the Dirty Dozen Tax Scams for 2012

IRS Releases the Dirty Dozen Tax Scams for 2012 IRS YouTube Videos: Dirty Dozen: English | Spanish | ASL WASHINGTON –  The Internal Revenue Service recently issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney