Tax Warrior Chronicles

How to Host Tax Deductible Parties Benefitting Charitable Organizations

Posted on Thu, Apr 04, 2019

By: Rosalind W. Sutch, CPA, MT


Passionately supporting a charitable organization can be personally rewarding.  How you provide the support can be as simple as writing a check or as complex as throwing a charitable event in your home.  The former is easy to document and track for tax purposes, the latter is a bit more involved, but can have a significant impact for the charity benefactor.  Keep reading for the dos and don’ts of how to party with purpose and get a valuable tax deduction.

Read More

Small Window of Opportunity to Combat New Proposed Regulations from IRS Regarding Contributions in Exchange for State and Local Tax Credits

Posted on Fri, Aug 24, 2018

By: Daniel Marques, CPA, MST


In May, we blogged on the IRS announcement that state & local tax deduction workarounds created in response to the Tax Cuts and Jobs Act (TCJA) would come under scrutiny.  As promised, the IRS recently released proposed regulations addressing these workarounds and the regulations are not taxpayer friendly.  However, there is a small window of opportunity for some taxpayers to take advantage of these programs before August 27, 2018.

Read More

IRS Cracking Down on Charitable Contribution Substantiation

Posted on Mon, Sep 09, 2013

The IRS is moving toward stricter enforcement of the rules regarding charitable deductions.  In general, you can take a deduction for contributions to charitable organizations.  However, in order for a deduction to be allowed certain requirements must be met.  One such requirement is that the contribution is made to a qualified charity, as defined in the Internal Revenue Code.  The IRS maintains a searchable database of charitable organizations on their website that allows you to obtain information regarding the federal tax status of exempt organizations. Another requirement that must be met is that you must be able to substantiate your contribution.  The kind of substantiation required

Read More