Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
Nonitemizers can claim a deduction The CARES Act makes two significant changes to the rules governing charitable deductions for individuals. Individuals will be able to claim a $300 above-the-line deduction for cash contributions made to public … [Read more...] about New charitable contribution rules
A tax-free way to help your favorite cause Normally, money distributed from an Individual Retirement Account (IRA) is taxable. However, if the funds are donated directly to charity, the distribution is completely tax-free. This is a significant … [Read more...] about Using an IRA to Make Charitable Contributions
How to reap the full tax benefit You’ve done your cleaning and now you have boxes of outgrown clothing and unused household items. Should you toss them, have a garage sale or keep them?If you opt for a garage sale, you have to devote time to … [Read more...] about Donating Non-Cash Items to Charity
