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The particular tax consequences of a donor's charitable contribution depends on the type of contribution that he makes. A taxpayer may contribute services, cash, or property to a charity. There are a number of traps, especially that donations of short-term capital gains are generally not tax deductible.
Cradles to Crayons® (C2C®) is a non-profit organization that provides free clothes and other basic needs such as shoes, diapers, coats, and backpacks with school supplies to children living in homeless, poverty, and low-income situations for free. Cradles to Crayons began with its first Giving Factory® warehouse in Quincy, Massachusetts, in ...
Planet Aid. Planet Aid is a non-profit organization headquartered in Elkridge, Maryland. Its primary activity is the collection of clothing and other household items for resale and recycling. Founded in 1997 in Massachusetts, [5] [6] the organization has expanded down the East Coast of the United States and operates in 23 states, [7] where it ...
A qualified charitable distribution (QCD) is a direct transfer of stock or cash from an eligible IRA to a qualifying charity. When you make a QCD, the distribution is excluded from your taxable ...
But when it comes time to put a price on a priceless family treasure — or any asset that gained value over time — the IRS might tax the difference between what you paid for it and what you ...
A 501 (c) organization is a nonprofit organization in the federal law of the United States according to Internal Revenue Code (26 U.S.C. § 501 (c)). Such organizations are exempt from some federal income taxes. Sections 503 through 505 set out the requirements for obtaining such exemptions. Many states refer to Section 501 (c) for definitions ...
v. t. e. A gift tax, known originally as inheritance tax, is a tax imposed on the transfer of ownership of property during the giver's life. The United States Internal Revenue Service says that a gift is "Any transfer to an individual, either directly or indirectly, where full compensation (measured in money or money's worth) is not received in ...