Helpful Deduction Tips for Collectors

Goal-focused,,Increase,Motivation,,Way,To,Achieve,The,Goal,,Support,And

Are you a collector? Have you ever wondered if you could donate the items you collect to a charity auction for tax break purposes? If you are considering this scenario, there are some things you should know.

The first thing you need to make sure of is that the charity you are considering is actually a qualified charity. Not all organizations qualify with the IRS for a charitable deduction. Make sure you check the list before you make your donation.

Another important step is to get your collectibles appraised before you make the donation. This can help you get the true value for your donation, which can mean a bigger tax break.

Next, you need to find out if your donation will actually produce any tax benefits for you. Charitable deductions are limited to 30 percent of your AGI, if they are capital gain property and you donate them to a publicly supported charity. On the other hand, if you donate to a private organization, the deduction amount drops to only 20 percent.

 Donating collectibles, like artwork for example can be a good way to get a few more deductions and save yourself a little more money on your tax bill. If you have any questions or need more clarification, then you can learn more by clicking here. You can also contact us at 1-877-CPA-2006.

Posted in ,

TechCrunch Disrupt SF 2016- Lyra

TechCrunch Disrupt SF 2016- Lyra Alan: Hi, this is Alan Olsen, and I’m here today with Dilun Ho. He is one of the co-founders of Lyra. Dilun, welcome to today’s show. Dilun: Thank you. Alan: So Dilun, give us the inspiration behind Lyra and what you see as the vision for your future here. Dilun: So Lyra basically is…

TechCrunch Disrupt SF 2016- Mokloud

TechCrunch Disrupt SF 2016- Mokloud Alan: Hi, this is Alan Olsen, and I’m here today with Bal Heroor. And we are here visiting about his new company Mokloud. Welcome to today’s show. Bal: Thanks Alan. Alan: So can you tell me about the vision for your company and why you got it started? Bal: Sure, so Mokloud is an…

TechCrunch Disrupt SF 2016- Netaround

TechCrunch Disrupt SF 2016- Netaround

TechCrunch Disrupt SF 2016- Netaround Alan: Hi, this is Alan Olsen’s American Dreams and I’m here today with Yiqiu Gao and Sijia who are the co-founders of Netaround. Welcome to today’s show. Yiqiu: Hi, American Dreams. Alan: So can you tell me about your company Netaround? Yiqiu: Yeah, so we are actually autonomous social networking. Autonomous social networking means…

TechCrunch Disrupt SF 2016- Gripp

TechCrunch Disrupt SF 2016- Gripp

TechCrunch Disrupt SF 2016- Gripp Alan: Hi This is Alan Olsen. I’m here today with Calvin Henderson. He’s the CEO and Co-Founder of Gripp. Calvin Welcome to today’s show.   Calvin: Hey Alan thanks a lot   Alan: So this is really a new type of technology you got here.   Calvin: We essentially created…