|
|
|
|
|
Posted by sandybeth on May 26, 2008, 6:58 pm
Please log in for more thread options
> If these tax rules are the determining factor of your level of charity,
> then you are the one that my reminder about the meaning of charity is
> directed toward. I am confident that you could find ways to volunteer
> that require no unreimbursed out-of-pocket expenditure. If you can't
> afford the other kinds of charity, you'll get no harsh judgment from me,
> but please don't blame it on the tax laws.
>
Apparently I hit a sore spot with you, Mark. Sorry. If you reread my
original post, I was merely asking for
a website for a valuation chart so I could (honestly and consistently
and LEGALLY) write down the value of the items I donated.
I'm sure there are many differing opinions on the meaning of charity,
but that wasn't my question.
I was also pointing out that mileage expenses could be a factor in
one's charity choices, particularly with the price of gas now.
(especially in regards to people on fixed incomes). I do think that
the IRS could focus on far bigger fish than the senior citizen who is
volunteering his time, and I do think that the mileage for charitable
work should be somewhat consistent with mileage for business. 14
cents per mile is way out of date. (my opinion).
As far as me "blaming the tax laws", All you have to do is google
"charitable contributions and taxes" and you will find out that the
tax loopholes are indeed plentiful and that tax laws are worthy of
much blame.
http://thinkprogress.org/2008/02/29/mccains-tax-breaks-for-donating-to-his-kids-elite-schools/
http://www.kyw1060.com/pages/859656.php?
BTW, I spent 3 days last week on fund raising for Relay for Life. I
also donate regularly to Operation Smile, which I keep receipts for
and claim on my income tax (so I guess that is not charity then?)
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Paul Thomas on May 26, 2008, 8:37 pm
Please log in for more thread options
> I was merely asking for a website for a valuation
> chart so I could (honestly and consistently and
> LEGALLY) write down the value of the items I donated.
Website values are not what makes it so. It's a guide, and it may be very
well that the values of your items are worth more - or less - than the
amount listed in any website.
--
Paul A. Thomas, CPA
Athens, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Seth on May 29, 2008, 2:17 pm
Please log in for more thread options
>Look at how non-cash charity is treated for tax purposes. Why do you
>think the law was passed in August 2006 to restrict deductions to only
>"good used condition or better" items?
Does that apply to all goods? (I've seen some books that are in worse
condition than that yet still worth in the thousands.)
Seth
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Arthur Kamlet on May 29, 2008, 3:36 pm
Please log in for more thread options >
>>Look at how non-cash charity is treated for tax purposes. Why do you
>>think the law was passed in August 2006 to restrict deductions to only
>>"good used condition or better" items?
>
>Does that apply to all goods? (I've seen some books that are in worse
>condition than that yet still worth in the thousands.)
It applies to used clothing and household goods. I would not
classify books as household goods.
But even clothing and household goods in less than good condition
can be deducted for any article i) worth more than $500 and ii) with
an appraisal by a qualified appraiser.
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
| Similar Threads | Posted | | Is the upside of the home office worth the downside (if any)? | February 14, 2008, 11:56 am |
| Claims Court Decision Worth Reading | August 11, 2008, 9:38 pm |
| Toy Donations | December 18, 2007, 3:47 pm |
| Christmas Donations | October 7, 2008, 12:14 am |
| When are donations not taxable to the receiving party? | February 7, 2008, 5:38 pm |
| Voluntary page charges as deductible donations? | April 10, 2007, 10:25 am |
| Are campaign donations deductible business expense? | April 25, 2008, 3:52 pm |
| New Law Encourages Cash Donations for Midwest Disaster Relief | November 25, 2008, 12:34 pm |
|
|
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap