Tax Expert and Advisor Barry G. Fowler Focuses on the Season of Charitable Giving
Barry G. Fowler, EA, leading expert in tax resolution issues and CEO of Taxation Solutions talks about the tax benefits of charitable giving whether you donate money, time or talents.
Houston, TX – November 30, 2016 – Barry G. Fowler, CEO of Taxation Solutions, posted a new article on his website entitled “Tax Benefits of Giving Time and/or Money to a Charity.” As we make our way toward the end of another year, Mr. Fowler offers some fourth quarter tax reminders in his latest article.
Fowler writes, “With the first chill of fall most people’s thoughts turn to the activities of autumn: Football, Halloween, pumpkins, apples, (did I mention football?), and, of course the holidays.” He continues adding, “For those looking to limit how much they give to Uncle Sam at tax time, this is also the time to turn your thoughts to giving to a favorite charity.”
As Fowler states, “Maybe all you have to give to a favorite charity is your time and talents.” He adds, “Although you may not claim a deduction for the value of the services you perform for a charity, you may claim deductions for out-of-pocket costs incurred while performing the services.” He then provides a fairly in-depth list of examples and advises, “Be sure to keep a record and track of your mileage and expenses.”
Fowler cautions those who contribute financially to, “Do your research. More than 1 million charities are registered with the Internal Revenue Service (IRS). Compare organizations and study how they function by visiting sites such as the Better Business Bureau. The best charitable organizations ensure that the majority of their revenue goes to the causes they support, not operating expenses.”
Along with other advise, Fowler recommends, “Only give to registered charities.” And, “Make sure your gift is tax-deductible.”
The entire article can be read at https://www.taxationsolutions.net/tax-benefits-of-giving-time-andor-money-to-a-charity/
About Barry G. Fowler, EA
Barry G. Fowler founded Taxation Solutions out of a genuine concern for the IRS issues his clients face, many of whom are self-employed, contract employees, or entrepreneurs. For his contributions to his profession and expertise in tax resolution and financial planning, Fowler has been featured as one of America’s Trendsetters on CBS and Yahoo, and as a Premier Expert in Inc. Magazine. He has been instrumental in helping hundreds of people resolve complex tax issues with the IRS.
Fowler is licensed to represent taxpayers before the Internal Revenue Service, and is a longstanding member of several tax industry professional organizations: NAEA, NATP, TSEA, ASTPS.