Be Careful of Scams When Donating to Charities

The world is full of good Samaritans, those people who see other people suffering, and want to help or who get involved in a good cause. Donating time, talent and money to charities and other good causes is a noble endeavor. However, as with most things in life, there are always those on the other side of the equation that are looking to take advantage of any situation, even of those who want to help the less fortunate.

Recently, the IRS warned Americans about one such catastrophic event that could lead to scammers trying to take advantage of would-be good Samaritans. South Carolina is still reeling from the horrible and widespread damage from the massive flooding the state sustained from the record-setting rain that recently blasted the area. In the midst of all the terrible destruction, many people were already reaching out to donate money for relief efforts. The bad news, scammers are out in full-force as well.

That led the IRS to issue a warning against these scammers who are standing by to take advantage of the good-hearted people who donate. The IRS says that these kinds of events often bring out many people who are looking to profit from others’ misfortune. To that end, the IRS recommends checking the IRS website to make sure that your donation is actually going to a qualified charitable organization and not into a scam artist’s pocket.

Also, remember to avoid giving out personal information, only use legitimate websites and be sure to get receipts for tax deduction purposes. Do not send or give cash and be careful of any unsolicited emails or phone calls. As always, trust your gut and use your best judgment in order to avoid being scammed.

Posted in

Cyclical Stocks: Ins and Outs, Ups and Downs

Cyclical Stocks: Ins and Outs, Ups and Downs A company can provide outstanding goods or stellar services. It can be well run by a board of directors and officers who choose the best and the brightest of employees, who, in turn, manage day-to-day business operations with skill and finesse. Seems as if purchasing shares of…

Gulf Oil Spill: Questions and Answers

Gulf Oil Spill: Questions and Answers

Gulf Oil Spill: Questions and Answers Source: IRS.gov Posted: 7/2/2010 Q1. Is a taxpayer required to include in gross income payments the taxpayer receives for lost business income, lost wages or lost profits? A1. Yes. The law requires that a taxpayer include in gross income payments the taxpayer receives for lost business income, lost wages…

Which College Majors Will Lead to Satisfying Careers?;Free Money For College Students

Free Money For College Students

Free Money For College Students College. Tuition, books, housing, computer, food, etc… Sound familiar? These items are just a few of the many frequent expenses encountered in a student’s college career. The government made education credits to try and offset these expenses by giving tax benefits to them. From a tax standpoint, Education credits have…

When Good Fortune Comes Your Way

When Good Fortune Comes Your Way Whether expected or not, an inheritance, divorce settlement, severance package or pension payout, proceeds from the sale of a business, life insurance, legal judgments, or even lottery winnings—all can put in your hands the equivalent of several years of earnings. Now you’re at a crossroads—suddenly called upon to switch…