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I have an S corporation under which I ran a business, rented
I have an S corporation under which I ran a business, rented an office, had office furniture, etc. Last year I closed the office, donated most of the big ticket items. I still have the corporation, I … read more
Lev
Lev
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If an S Corp donates some of it's property (furniture and
Hi Barbara, if an S Corp donates some of it's property (furniture and fixture type things), does the charitable contribution flow through to the shareholders at the asset's adjusted cost, or the fair … read more
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I have a partnership that has land free and clear on the partnership
I have a partnership that has land free and clear on the partnership books at a cost of 100K. They are considering donating the land to the city. The land has a FMV of 500K. How much is the charitable… read more
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I have a question regarding in-kind donations. I donated sports
I have a question regarding in-kind donations. I donated sports equipment (goods with a cost basis of $5k) to a local animal shelter charity. The charity arranged for a third party sports industry bus… read more
Stephen G.
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Hello, you helped me last year with some questions on filing
Hello, you helped me last year with some questions on filing my company 1120 S tax return. I've got a situation for this years 1120 S 2013 tax return that I'm finishing up (extension due 9-15-14). Can… read more
jgordosea
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I have property in Pa. and it will be given to the state of
I have property in Pa. and it will be given to the state of pa. The property is valued and appraised at $400,000.00. Can I lower my Ira holdings with this donation and if so by how much?… read more
Marvin,EA
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I have over $1000 in gently used womens clothing to donate
I have over $1000 in gently used women's clothing to donate to a charity. What irs form do I need to fill out for this. What documentation from the charity do I need to obtain.… read more
Megan C
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Certified Public Accountant (CPA)
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Does this apply to horses??? If a horse is fully depreciated
Does this apply to horses??? If a horse is fully depreciated then donated to a nonprofit yet still has an fmv of $50K, are the rules the same as equipment?… read more
Megan C
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Hello! I have questions about office equipment depreciation
Hello! I have questions about office equipment depreciation and charity donations. Thanks in advance for your help! I have heard that one can deduct depreciation for items such as personal computers, … read more
Lev
Lev
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We have donated furniture in 2011 due to a job move which we
We have donated furniture in 2011 due to a job move which we bought in 2010 . what is the maximum amount one can deduct on the tax return in the donation section ? We also have a carryover from 2010 w… read more
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What are the tax consequencies of donating a rental house to
What are the tax consequencies of donating a rental house to charity that has been depreciated out on my tax returns. Would I owe any further taxes? Would I get a charitable deduction on my taxes for … read more
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I own 3 single family homes in Ohio, for which I paid $7K -
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BK-CPA
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I would like to donate $3,500 in new personal needs items to
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Robin D.
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I own a small business, LLC, and want to provide a scholarship.
I own a small business, LLC, and want to provide a scholarship. Where, on Schedule C do I record it?… read more
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What is the amount of charitable contributions allowed each ...
What is the amount of charitable contributions allowed each of the following individuals before consideration of percentage limitations? (A) Charlie contributed an inventory item from his sole proprie… read more
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I am self employed. Can I leave behind all my furniture ...
I am self employed. Can I leave behind all my furniture when I have to move and claim the loss as a moving expense… read more
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can I depreciation deductions against its value ...
can I depreciation deductions against its value on Schedule C and than donated the vehicle to charity?… read more
Ed Johnson
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If I purchase a church is this purchase tax deductable
I am planning to purchase a church in Bronx, NY and renovating it into a business. I am wondering if this purchase is tax deductable and or what advantage tax wise is this worth. XXXXX XXXXX… read more
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