Laura Masheder - Audit Partner and Head of Not-for-Profit’s Post

Gift Aid Awareness Gift Aid is a government tax relief scheme that allows charities to claim an additional 25% on eligible donations from UK taxpayers. This means that for every £1 you donate, the charity can receive an extra 25p, significantly increasing the impact of your generosity. How to make a difference: Tick The Box: Whenever you make a donation to a UK charity, be sure to tick the Gift Aid box on the donation form. #TickTheBox

This is just a reminder that as you consider your year-end donations if you are 70 1/2 years old or older, you can transfer up to $100K of your IRA to a charity tax-free each year. This is a required minimum distribution. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end of the year. And, for those who are at least 73 years old, QCDs count toward the IRA owner's required minimum distribution (RMD) for the year. #charitytax #yearend #endoftheyear #donations #tax #ira #habitatforhumanity

Charitable contribution scams are on the rise, according to the IRS. One fraudulent tax scheme is sometimes marketed as “Charitable LLCs.” Unscrupulous promoters encourage high-income taxpayers to create limited liability companies (LLCs), deposit cash or other assets into them, and then donate a majority percentage of non-voting, non-managing membership units to charities. The promoters sometimes have control over the charities that receive the donations. The IRS is reminding taxpayers that a valid charitable contribution requires the taxpayer to give control over donated assets to qualified charities. For additional information: https://bit.ly/4g4okLZ #IRSWarning #CharityScams #CharitableLLCs #TaxFraud #CharitableContributions #TaxTips

Charitable contribution scams are on the rise, according to the IRS. One fraudulent tax scheme is sometimes marketed as “Charitable LLCs.” Unscrupulous promoters encourage high-income taxpayers to create limited liability companies (LLCs), deposit cash or other assets into them, and then donate a majority percentage of non-voting, non-managing membership units to charities. The promoters sometimes have control over the charities that receive the donations. The IRS is reminding taxpayers that a valid charitable contribution requires the taxpayer to give control over donated assets to qualified charities. For additional information: https://bit.ly/4g4okLZ #IRSWarning #CharityScams #CharitableLLCs #TaxFraud #CharitableContributions #TaxTips

Charitable contribution scams are on the rise, according to the IRS. One fraudulent tax scheme is sometimes marketed as “Charitable LLCs.” Unscrupulous promoters encourage high-income taxpayers to create limited liability companies (LLCs), deposit cash or other assets into them, and then donate a majority percentage of non-voting, non-managing membership units to charities. The promoters sometimes have control over the charities that receive the donations. The IRS is reminding taxpayers that a valid charitable contribution requires the taxpayer to give control over donated assets to qualified charities. For additional information: https://bit.ly/4g4okLZ #IRSWarning #CharityScams #CharitableLLCs #TaxFraud #CharitableContributions #TaxTips

If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That’s not only generous, it might lead to tax savings (if you itemize deductions on your tax return). You’ll need to secure proper documentation from the qualified charities you donate to. Noncash donations of less than $250 must be supported by a receipt, showing your name, address, date of donation and detailed descriptions of the items. For donations valued at $250 to $500 you must also obtain a “contemporaneous written acknowledgement” from the charity. Click here for more details, including documentation needed for higher value donations: https://bit.ly/3yvZKD4 #CharitableDonations #TaxSavings #IRS #TaxDeductions #SummerCleaning #TaxTips

If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That’s not only generous, it might lead to tax savings (if you itemize deductions on your tax return). You’ll need to secure proper documentation from the qualified charities you donate to. Noncash donations of less than $250 must be supported by a receipt, showing your name, address, date of donation and detailed descriptions of the items. For donations valued at $250 to $500 you must also obtain a “contemporaneous written acknowledgement” from the charity. Click here for more details, including documentation needed for higher value donations: https://bit.ly/3yvZKD4 #CharitableDonations #TaxSavings #IRS #TaxDeductions #SummerCleaning #TaxTips

If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That’s not only generous, it might lead to tax savings (if you itemize deductions on your tax return). You’ll need to secure proper documentation from the qualified charities you donate to. Noncash donations of less than $250 must be supported by a receipt, showing your name, address, date of donation and detailed descriptions of the items. For donations valued at $250 to $500 you must also obtain a “contemporaneous written acknowledgement” from the charity. Click here for more details, including documentation needed for higher value donations: https://bit.ly/3yvZKD4 #CharitableDonations #TaxSavings #IRS #TaxDeductions #SummerCleaning #TaxTips

📢 What is Gift Aid? 💡 Gift Aid lets UK charities claim back the tax on your donations, boosting your contribution by 25% at no extra cost to you! So, a £10 donation becomes £12.50 in the hands of a charity. 🎁 With Stewardship's Instant Gift Aid feature, this boost happens automatically, meaning charities get that extra support instantly - saving time and admin hassle! Plus, you can easily track your giving and Gift Aid history from your Giving Account with us. 🙌 👉 Read the blog to learn more: https://buff.ly/3RL2GDl #TickTheBox #InstantGiftAid #Generosity

Charitable Giving: Doing Your Due Diligence Donating to charities is a win-win when filing taxes. You get to help a cause you care about and can claim dedications on cash contributions. But what happens when the charity you’ve given to is fraudulent? You’ve now donated to a false entity, haven’t helped the cause, and cannot write it off on your taxes. Click below to read more! https://lnkd.in/eJj6QFyc #charitablegiving #tax #charity