Charitable Donations – Page 2 – The Burns Firm – Advisors of Complex Financial Matters

Year-end giving to charity or loved ones

December 1st, 2022|Categories: Accountant, Burns Firm, Charitable Donations, CPA Dallas, Dallas CPA, Donations, IRA, Tax, Tax Advisor, Tax Planning, The Burns Firm, Year-End Tax Planning|Tags: charitable donations from your IRA, CPA, Donating to Charilty, tax, tax-smart gifts, The Burns Firm, year-end giving, year-end giving to charity and family|

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. [...]

Valuable gifts to charity may require an appraisal

May 20th, 2022|Categories: Burns Firm, Charitable Donations, CPA, CPA Dallas, CPA near me, Dallas tax return preparer, Dallas tx accountant, Donations, Services, Tax, tax accountant, tax accountant near me, Tax Deductions, Tax Preparation, tax preparer near me, Tax Return, The Burns Firm|Tags: charitable contribution, CPA Dallas, cpa near me, Dallas CPA, Dallas CPA near me, do I need to have a charitable donation appraised, gifts to charity, gifts to charity and appraisal, North Dallas CPA, tax preparer near me, The Burns Firm|

If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right [...]

Did You Give to Charity in 2021 — Make Sure You Have Substantiation

March 1st, 2022|Categories: Accounting, Burns Firm, Charitable Donations, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Donations, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return, The Burns Firm|Tags: are charitable donations tax deductible, Charitable donation, CPA Dallas, credits for giving, Dallas CPA, do I get tax credit for giving to charity, Donations, giving to charity, IRS substantiation requirements for donations, should I give to charity, tax, tax credits, tax deduction for charitable donation, The Burns Firm, what are requirements to deduct donations from tax return|

If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a [...]

Help Safeguard Your Personal Information By Filing Your 2021 Tax Return Early

January 18th, 2022|Categories: Accounting, Alternative Minimum Tax, American Opportunity Tax Credit, Burns Firm, Charitable Donations, Child Tax Credit, COVID-Related Tax Relief Act (COVIDTRA), CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Dependent Care credits, Donations, Employee Retention Tax Credit, Exemptions, Expenses, Gift Tax, Hobby, how do I know if my parent qualifies as my dependent, how do I report bitcoin transactions, how do i report virtual currency transactions, if I support my parents financially can I claim them on tax return, IRS, Medicare Premiums, Nanny Tax, Retirement, Scholarships, Services, Social Security, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Return, Tax Withholding, tax write-offs, Taxpayer Certainty and Disaster Tax Relief Act (TCDTRA), TCJA, The Burns Firm, Virtual Currency, Withholding|Tags: Allison Shike, CPA Dallas, Dallas CPA, Denis Burns, file 2021 tax return early, tax credits, tax deductions, tax preparation near me, tax preparer near me, tax preparer North Dallas, tax preparer North Texas, tax withholding, Texas CPA, The Burns Firm, when can I file my 2021 tax return|

The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even if you typically don’t file until [...]

Feeling Generous at Year End? Strategies for Donating to Charity or Gifting to Loved Ones

December 2nd, 2021|Categories: Business, Charitable Donations, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Donations, IRS, Partnership, Services, Small Business, Tax, Tax Credits, Tax Cuts, Tax Deductions|Tags: are charitable donations tax deductible, can I deduct donations to charity, CPA Dallas, Dallas CPA, how do I know what donations are deducitble, tax accountant near me, The Burns Firm, what is deductible on my tax return|

As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic tax rules involved [...]

Navigating the Tax Landscape When Donating Works of Art to Charity

November 9th, 2021|Categories: Accounting, Charitable Donations, CPA Dallas, Dallas CPA, Dallas tax return preparer, Dallas tx accountant, Tax, Tax Credits, Tax Deductions, Tax Planning|Tags: art donations, can i deduct a charitable donation of art, CPA Dallas, credit for donating art to charity, Dallas CPA, donating art to charity, donating to charity, tax deductions, tax donations, tax preparer near me, The Burns Firm|

If you own a valuable piece of art, or other property, you may wonder how much of a tax deduction you could get by donating it to charity. The answer [...]

Did You Make Donations in 2020? There’s Still Time to Get Substantiation

February 25th, 2021|Categories: Accounting, Burns Firm, Charitable Donations, Services, Tax, Tax Credits, Tax Cuts, Tax Deductions, Tax Planning, Tax Preparation|Tags: are donations deductible, can I deduct my contribution to charity, charitable donations, CPA Dallas, Dallas CPA, do I need to itemize to claim donations, do I need to itemize to take deductions for donations, donation to charity, Donations, tax, tax accountant in Dallas, tax accountant near me, tax deductions, tax return preparation, tax return preparer near me, The Burns Firm, what deductions can I use on my tax return, what is deductible|

If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter [...]