The IRS Deductions Blog

Archive for the ‘Gift Tax Deductions’ Category

Question: what are deductible gifts to a church?

OUr church is confused. A church member wants us to hire someone through his son’s vocational training job, and he is stating he will pay the disabled person’s wage if the church applies as the employer. He does not want these funds to be earmarked to be managed by the trustees group or go through the normal hiring process. He will not offer this if we do not use his son’s agency, or hire this specific person (whom we do not know), and expects the entire amount to be deductible under his business versus personal name. Is this an ethical, appropriate proposal to qualify as a charitable gift?

Answer: It’s not a matter of ethical. If it’s earmarked to be used for a particular person, it isn’t LEGALLY deductible. The church should not give him a receipt as if it is.

Items on Amazon Right Now for Gift Deductible:

The Cosby Show: Season 8 $10.99 COSBY SHOW SEASON 8 – DVD Movie…

SquareTrade 3-Year Electronics Warranty ($175-200 Items) $29.99 SquareTrade Care Plans are great value and cost 70% lower on average than traditional warranties.  Upon purchase, you will get an email confirmation.  You will not be mailed a paper contract.  If you have questions, please call: 1.877.WARRANTY….

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SquareTrade 3-Year Electronics Warranty ($350-400 Items) $43.99 SquareTrade Care Plans are great value and cost 70% lower on average than traditional warranties.  Upon purchase, you will get an email confirmation.  You will not be mailed a paper contract.  If you have questions, please call: 1.877.WARRANTY….

Best Christmas Gift – A Tax Deductible Business

Items on Amazon Right Now for Deductible Gift Recipient List:

Items on Amazon Right Now for Deductible Gift Recipient:

HELP ! SAVE Mercy Ministry Inc.Together we will help the Homeless and the Needy.

Question: True or false: Gifts of cash into a trust fund are tax deductible?

Are gifts of cash into a trust fund tax deductible?

Answer: I believe that the answer is no. Gifts as a general rule are Not Tax Deductible.

Items on Amazon Right Now for Is Gifting Tax Deductible:

Passing the tests: how to know if you qualify for the age pension

Eligibilty for the age pension depends on many things. First, a person must reach pension age. Currently this is 65 for men and 64 for women, depending on when they were born.

Help Kara Go To FASA

Items on Amazon Right Now for Gift To Client Deductible:

Paterson nonprofit group temporarily shuts to recover from back-to-back burglaries [raw video]

Well of Hope, which hosts a Paterson drop-in center and run a clean-needle exchange program, sustained damage and loss to theft after two audacious burglaries.