• Home
  • About Us
  • Contact Us

For Our Labors of Love

You are here: Home / Archives for Internal Revenue Service

Dealing With The Wrong Type Of Charity? How To Find Out?

CHICAGO - SEPTEMBER 10: People leave Elijah's ...

Image by Getty Images via @daylife

What should you do if you have second thoughts about the suitability of the charitable organization after you have made a contribution? Ideally speaking, one should assess the seriousness and commitment of the charitable organization before contributing money or time. However, this does not mean you should simply let things go.

You may be requested to contribute money or your time at a later date. Or, you may be asked to provide references who may be interested in giving money. In such a scenario, not having answers to all your doubts and queries may prove to be a big mistake.

For starters, have a word with the charitable organization and explain your doubts in the nicest manner possible. Something may have given you an impression that the organization is not serious. Having a word with the management is the best way of getting the official position. If your core doubts and queries are not answered, you can then resort to other ways and means to find more information.

You can log on to the internet and check out whether the charitable organization has a website. You can find out whether other individuals have contributed to this site in the past. If you find that other individuals too have the same doubts as you have, it is a clear indication that something is not right with the organization.

Once confirmed, insist on satisfactory answer to queries before any further contributions. A firm and clearheaded approach is more than enough to get to the truth of the matter. This will help you ensure that your contributions are made to the right organization at a later date.

Filed Under: General, Society Tagged With: Charitable organization, Internal Revenue Service, Non-profit organization

Donations : A Volunteer Offering

It has been the unchangeable habit of us humans to run behind money and in some cases we are successful and in some cases we face defeat. Frankly speaking, we are never satisfied with the amount of wealth we have amassed. Even if we ask the richest person of this world if he is satisfied about the amount of money he has in his coffers, his reply will always be in a negative way.

Ultimately, there comes a point of time in his life where he thinks of how much the society has given to him, so he tries to give some amount of the money he has earned and this type of giving is commonly known as donation.

Though donation cannot necessarily mean giving of money, it can also be an offering of materials, vehicles, immovable property and many such donations. Donations are most of the time volunteer and it is given out of their own will. There are some instances when a certain group of people are forced o give donations for doing of favours.

Nowadays we see so many educational institutions asking for such huge sums of money as donation and in an indirect way it is compulsory. So the meaning of the term ‘Donation’ changed and is being misused by many.

When speaking of donations, they can be of different types and can be done in a different number of ways like churches, temples, mosques, charities, social work organisations, social service groups and the governments as an emergency relief fund. Hence doing a donation is a good deed and should always be done with a right motive, which is helping and not with any subversive motive.

Filed Under: Volunteering Tagged With: Donation, Internal Revenue Service, Social work

Good Deeds Indeed Pay Off while You File Your Taxes

If you are like most of the Americans, giving away your hard earned money in form of tax can be painful. This is where you start looking for the ways that can help you claim deductions on the payable tax. In order to maximize your tax refunds these deductions should be mentioned while filing your tax returns.

According to the U.S. laws, you can claim deductions on the contributions you made to the charitable organizations during the fiscal year. Whereas these donations to charities help you receive a larger tax refund, they also bring you a feeling of satisfaction that you are helping those in need. However, only the donations made to the qualified charitable organizations will count towards your claimable deductions. Also, various kinds of charitable organizations, such as public charities, fraternal organizations, private charities, private operating foundations and so on have varying deductibility limitations. For instance, public charities (one with the public sources of funding) such as churches, medical research organizations, or hospitals have the deductibility limit of 50 percent. Some examples include:

  • Cancer Free Kids Pediatric Cancer Research Alliance
  • Answer International, Inc.
  • Herald Ministries
  • Network for Jewish Care and Chaplaincy

You can visit the IRS website in order to identify if the charities you donated to are listed as the receivers of deductible contributions. Also, you can find out the deductibility codes applicable to them and calculate your tax deductions based on their deductibility limits and the amount of contributions you made. In order to find an accurate amount of payable tax, you can use a free tax calculator.

The free tax calculators available online can give an almost accurate estimate of what refund amount you should expect considering your income, deductions, tax rebates, and all the other parameters. You can enter the qualifying sum of money you contributed to charities, other applicable tax rebates, and your income in order to find out the payable tax and the expected amount of refund.

Filed Under: Natural Disaster Relief, Red Cross Tagged With: Internal Revenue Service, Tax, Tax deduction, United States

Categories

  • Community
  • F.E.M.A
  • General
  • Habitat for Humanity
  • Natural Disaster Relief
  • Philanthropy
  • Red Cross
  • Seasonal Volunteering
  • Society
  • Tips & Tricks
  • Uncategorized
  • Volunteering

Recent Posts

  • Dealing With The Wrong Type Of Charity? How To Find Out?
  • Not Volunteering Due To Lack Of Time? Here Is How To Stop Making Excuses
  • The Harsh Truth – Those Who Do Not Volunteer Are Not Keen On Charity
  • Donating to Habitat for Humanity to Make A Difference in Communities
  • Little-Known Benefits of Working for a Charity
  • Sitemap

© Copyright 2012 For Our Labors of Love . All rights reserved.