Chris Eichmuller, CPA is a manager at Corrigan Krause.

As the holiday season rapidly approaches, food drives and charitable donations are common giving opportunities that many businesses participate in. Did you know your company may be entitled to an enhanced tax deduction if you donate food to a qualifying organization?

Qualifying Donations

Charitable contributions of food need to follow specific regulations under Code (Sec. 170(e)(3)(C)) and go to a qualified orga Read More >>

Al Harsar, CPA gives a tip on donating to charities tax-free:

 

 

Good news for those who donate to charities!

With the PATH Act of 2015, our government finally made permanent a beneficial part of the code for 501(c)(3) Tax Exempt Organizations: the ability for an individual to roll over a portion of their Traditional (taxable) IRA directly to a charity of their choice- tax free!

The donor does not have to cash out the IRA and pay tax on it before donating the proceeds. Read More >>

Ann Emery dives in to explain the PATH Act of 2015 and how it could affect you:

 

 

President Obama has signed into law the Protecting Americans from Tax Hikes (PATH) Act of 2015, which provides a number of significant tax changes for both individuals and businesses. The PATH Act includes the retroactive extension of numerous taxpayer-favorable tax extenders. A large number of tax breaks expired on December 31, 2014, so for these breaks to be available in 2015, legi Read More >>