Home Taxes Tax Deductions Art Donation Tax Scam Targets Wealthy Filers There’s an art tax scam circulating, and the IRS says high-income taxpayers are most at risk.

Charitable donors, beware: A widow has lost a $464,000 tax deduction for a gift to a museum because her tax paperwork lacked a few key words. The recent Tax Court decision in Albrecht v.

The charitable donation tax deduction is a tax break that allows itemizing taxpayers to deduct certain contributions to IRS-approved nonprofits. By lowering your taxable income, it reduces how ...

The Tax Cuts and Jobs Act, which affects the 2018 to 2025 tax years, significantly increased the standard deduction amount. It’s become harder to itemize deductions since the bar is so much ...

The Tax Cuts and Jobs Act of 2017 increased the charitable contribution deduction limit for cash gifts from 50% to 60% of adjusted gross income (AGI). For 2020, the AGI limits have been ...

The charitable donation tax deduction is a tax break that allows itemizing taxpayers to deduct certain contributions to IRS-approved nonprofits. By lowering your taxable income, it reduces how ...