Charitable Donation Tax Deductions - Tips for Business Owners
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- Опубликовано: 8 сен 2024
- Charitable Donation Tax Deductions - Tips for Business Owners. How to get the biggest tax benefit out of your charitable deductions. Sponsorships, donating inventory, bunching contributions, Donor Advised Funds. How to maximize your write-offs for charitable contributions.
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**DISCLAIMER: This video is meant for educational purposes only. This is not to be relied on or considered a substitute for advice on your specific situation from your tax advisor.
#taxdeductions #smallbusinesstaxes #charitabledonations
![Filing Taxes for Self-Employed 2023 [Beginner Guide 2024]](/img/1.gif)
Jamie, from one CPA to another, nice job breaking down these topics, especially donor advised funds. Great presentation, great personality, keep up the great work!
I appreciate this so much Tyler! Thanks!!
This is the most important video I’ve watched on RUclips as a nonprofit owner. Thank you very much for the simplicity yet informative.
I'm so glad you found it helpful!!!
Why can’t every video be this clear and simple? And of course this video doesn’t have many videos because RUclips is just like that.. thank you for this one! I had a question which is now answered without having to watch 10 minutes of B roll and shmancy intros
You're so welcome! I'm glad my video was helpful!
Very excited to have opened our DAV in 2021. We donate around $10,000 annually anyway so by putting $25,000 into a DAV we are moving funds from a taxable IRA to a DAV and getting that tax write off plus morgage/home equity and state taxes. It is like starting a mini foundation.
Yes! We love ours too! Just remember to donate only stock you've held over 1 year, otherwise you don't get the same tax benefits!
It's a little hard to impress me, and I was impressed. Thank you so much for the information that goes above the basics--helped me think more strategically.
Thank you for the kind words! So glad this information could be helpful 😊
Learned a lot from this video. Recently founded LLC, thank you for the advice. Perfectly said & taught imo.
So glad it was helpful!
Lovely
Hey Jamie, I need to find a CPA who is familiar with real estate investing. Can you recommend one please?
Check out this video ruclips.net/video/48HQK4q0EI8/видео.html
Thanks 😊 You Explained very Well butt I don't understand English 😁
👆👆👆
I have rental equipment, and can I write off the rental fee I usually charge if I donate the use to a 501 c3 cause? Thank you, jeff
Hi Jamie. You mentioned donating inventory, but i didnt get where and how to report this.
Is that calculated and reported as a "loss", or is it calculated in the beginning/ending inventory section, or something else?
I closed my fishing tackle business and donated all of my inventory to a 501c3 charity that takes disabled veterans on fishing charters. So, its a very realistic donation.
Im just trying to find out how best to report this (not as an itemized deduction).
Thank you for reaching out with your question. Since it involves specific personal details and might require tailored advice, I recommend consulting with a Certified Public Accountant (CPA) who can provide you with one-on-one guidance. Unfortunately, I'm unable to offer such personalized services through this platform. Wishing you the best with your situation!
@@JamieTrull You and I already communicated by email. Thanks so much for your assistance!!
Who to give inventory to?
What kind of business do you have? That would help determine who you can give inventory to
Great question, I would love to answer that for you on my next live show! You can submit this question here for me to answer: www.JamieTrull.com/RUclips