Tax News

This is where I’ll announce updates on tax changes and give financial tips.  **WARNING** The statements made on this page are not to be construed as tax advice.  The situations cited are general provisions of the tax law.  These general provisions may not be applicable to your specific tax situation.  Please contact your tax adviser with details of your situation to determine if exceptions may apply to you.

When you are donating cash or property, make sure you do your due diligence before taking that deduction on your income taxes.  Just because the organization is a nonprofit does not mean your contribution is automatically deductible.  The organization must be classified as a 501(c)(3) nonprofit for your contribution to be tax deductible.  You can visit the IRS website (www.irs.gov) and click on the Charities & Non-Profits section to search for the status of the organization.