Viewing posts categorised under: Charitable Giving
07Mar
When it comes to charitable deductions, all donations aren’t created equal
Charitable Giving

As you file your 2016 return and plan your charitable giving for 2017, it’s important to keep in mind the available deduction. It can vary significantly depending on a variety of factors.

What you give

Other than the actual amount you donate, one of the biggest factors that can affect your deduction is what you give:

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21Dec
Ensure your year-end donations will be deductible on your 2016 return
Charitable Giving

 

Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. To ensure your donations will be deductible on your 2016 return, you must make them by year end to qualified charities.

When’s the delivery date?

To be deductible on your 2016 return, a charitable donation must be made by Dec. 31, 2016. According to the IRS, a donation generally is “made” at the time of its “unconditional delivery.” But what does this mean? Is it the date you, for example, write a check or make an online gift via your credit card? Or is it the date the charity actually receives the funds — or perhaps the date of the charity’s acknowledgment of your gift?

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03Nov
Private foundations aren’t only for the rich and famous
Charitable Giving

 

If creating a family legacy of charitable giving is important to you, a private foundation might be the right estate planning vehicle. And this option isn’t just for billionaires. You may be able to effectively establish a foundation with an initial contribution as low as $250,000.

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