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Charitable Deduction Information Yuma AZ

In the rush to get tax returns prepared and filed, many people absentmindedly forget to include deductions for contributions to charities. If you itemize deductions on your tax return, this can be an expensive omission. Before claiming your deduction for donations, there are a couple of things to keep in mind.

H&R Block
(928) 783-0336
1463 S YUMA PALMS PKWY
YUMA, AZ

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H&R Block
(928) 783-8241
661 S 4TH Ave
YUMA, AZ

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Jackson Hewitt
(928) 627-7335
725 E Main St.
Somerton, AZ

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Scott L. Overstreet (RFC®), LUTCF
(602) 481-1948
PO Box 9052
Mesa, AZ
Company
Retirement Solutions
Qualifications
Education: AA, BS
Years of Experience: 15
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Returns, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans

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Ray Cerimeli
960 Oxford Lane
Chandler, AZ
Company
Title: Financial Service Consultant
Service
Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Health Care Insurance,Retirement Planning,Real Estate Investm

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Liberty Tax Service
(866) 871-1040
741 S 4th Ave
Yuma, AZ

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Dukes Income Tax Service
(928) 328-1904
1041 S. Avenue C
Yuma , AZ
 
Mr. Jeffrey J. Biro (RFC®), CEP
(480) 969-5667
6900 E. Camelback Road, Suite A-39
Scottsdale, AZ
Company
Family Wealth Advisors
Qualifications
Education: BA, MA(abt)
Years of Experience: 30
Membership
IARFC, MDRT, FPA, SFSP, NAIFA, GAMA, NICEP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, Education Plan, LiabCover, Compensation Plans

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Mr. Daniel J. Trotta (RFC®), MBA
(480) 626-8089
10105 E Via Linda Dr #103-324
Scottsdale, AZ
Company
Choice Benefits Inc.
Qualifications
Education: MA.Ed, University of Phoenix;MBA, Roosevelt University; BBA, Walsh College;AAS, Scottsdale Community College
Years of Experience: 16
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Healthcare Accounts, BuySell

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Jeffrey Biro
6900 E. Camelback Rd.
Scottsdale, AZ
Company
Title: President
Company: Family Wealth Advisors
Type
Investment Advisor Rep: Yes
Education
Double Bachelor's
Master's (abt)
Years Experience
Years Experience: 28
Service
Portfolio Engineering,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Fee Only Portfolio Management,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Life Insurance,Investment & Portfolio

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Charitable Deduction Information

IRS Charitable Deductions

The tax code in the United States contains many provisions to promote certain behavior. One area of behavior is the promotion of donating to charities through IRS charitable deductions.

In the rush to get tax returns prepared and filed, many people absentmindedly forget to include deductions for contributions to charities. If you itemize deductions on your tax return, this can be an expensive omission.

Pursuant to relevant provisions of the tax code, you can take significant deductions if you donate money or goods to a qualified charity. A qualified charity is one that is registered with the IRS as a 501c3 entity. The 501 designation refers to the relevant section of the tax code.

Importantly, not all charitable organizations are qualified with the IRS. You can go to the IRS web site and search through a list to see if a particular group is included. If they are not, red flags should go be raised.

Before claiming your deduction for donations, there are a couple of things to keep in mind:

1. Politics - You may feel strongly about certain political ideologies, issues or candidates. You can contribute to the causes, but you can't deduct the contributions as charitable giving.

2. You can only deduct contributions actually made for the year in question. If you forgot to claim donations on your tax return for the 2009 year, you cannot claim them on a 2010 return. Instead, you should go back and amend the 2009 return.

3. If you make a contribution for a good or service, you can only deduct the amount you contribute which is in excess of the fair market value of the good or service. For instance, many charitable groups will hold auctions to raise money. If your winning bid for a two night hotel stay is $800, you can claim a deduction for the bid amount minus the normal cost. You cannot just write off $800.

4. In general, donations of stock or property should assigned the fair market value, not an arbitrary figure based ...

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