Month: December 2015

There’s Still Time to Make 2015 Qualified Charitable Contributions

On Friday, December 18, 2015 President Obama signed the 2016 Consolidated Appropriations Act into law. Among its many provisions it is the permanent extension of the ability for a taxpayer to make qualified charitable distributions (QCDs) from individual retirement accounts (IRAs). In the legislation signed by the President on December 18, 2015 the IRA charitable… Read More

Year-End Tax Planning for 2015

Year-end Tax Planning for 2015 There is still­ some time left to make some income tax savings moves for 2015. Charitable Contributions Make deductible charitable contributions on or before December 31. Taxpayers must be itemizing deductions on IRS Schedule A in order to benefit. Be sure to obtain acknowledgment letters for donations greater than $250.… Read More