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Tips from IRS for Year-End Gifts to Charity



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WASHINGTON — The Internal Revenue Service today reminded individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years.

Some of the changes taxpayers should keep in mind include:

Rules for Charitable Contributions of Clothing and Household Items

Household items include furniture, furnishings, electronics, appliances and linens. Clothing and household items donated to charity generally must be in good used condition or better to be tax-deductible. A clothing or household item for which a taxpayer claims a deduction of over $500 does not have to meet this standard if the taxpayer includes a qualified appraisal of the item with the return.

Donors must get a written acknowledgement from the charity for all gifts worth $250 or more. It must include, among other things, a description of the items contributed.

Guidelines for Monetary Donations

A taxpayer must have a bank record or a written statement from the charity in order to deduct any donation of money, regardless of amount. The record must show the name of the charity and the date and amount of the contribution. Bank records include canceled checks, and bank, credit union and credit card statements. Bank or credit union statements should show the name of the charity, the date, and the amount paid. Credit card statements should show the name of the charity, the date, and the transaction posting date.

Donations of money include those made in cash or by check, electronic funds transfer, credit card and payroll deduction. For payroll deductions, the taxpayer should retain a pay stub, a Form W-2 wage statement or other document furnished by the employer showing the total amount withheld for charity, along with the pledge card showing the name of the charity.

These requirements for the deduction of monetary donations do not change the long-standing requirement that a taxpayer obtain an acknowledgment from a charity for each deductible donation (either money or property) of $250 or more. However, one statement containing all of the required information may meet both requirements.


The IRS offers the following additional reminders to help taxpayers plan their holiday and year-end gifts to charity:

  • Qualified charities. Check that the charity is eligible. Only donations to eligible organizations are tax-deductible. Select Check, a searchable online tool available on IRS.gov, lists most organizations that are eligible to receive deductible contributions. In addition, churches, synagogues, temples, mosques and government agencies are eligible to receive deductible donations. That is true even if they are not listed in the tool’s database.
  • Year-end gifts. Contributions are deductible in the year made. Thus, donations charged to a credit card before the end of 2015 count for 2015, even if the credit card bill isn’t paid until 2016. Also, checks count for 2015 as long as they are mailed in 2015.
  • Itemize deductions. For individuals, only taxpayers who itemize their deductions on Form 1040 Schedule A can claim deductions for charitable contributions. This deduction is not available to individuals who choose the standard deduction. This includes anyone who files a short form (Form 1040A or 1040EZ). A taxpayer will have a tax savings only if the total itemized deductions (mortgage interest, charitable contributions, state and local taxes, etc.) exceed the standard deduction. Use the 2015 Form 1040 Schedule A to determine whether itemizing is better than claiming the standard deduction.
  • Record donations. For all donations of property, including clothing and household items, get from the charity, if possible, a receipt that includes the name of the charity, date of the contribution, and a reasonably-detailed description of the donated property. If a donation is left at a charity’s unattended drop site, keep a written record of the donation that includes this information, as well as the fair market value of the property at the time of the donation and the method used to determine that value. Additional rules apply for a contribution of $250 or more.
  • Special Rules. The deduction for a car, boat or airplane donated to charity is usually limited to the gross proceeds from its sale. This rule applies if the claimed value is more than $500. Form 1098-C or a similar statement, must be provided to the donor by the organization and attached to the donor’s tax return.

If the amount of a taxpayer’s deduction for all noncash contributions is over $500, a properly-completed Form 8283 must be submitted with the tax return.



Dicas Imposto de Rendanew_business


Imposto de renda talvez seja a última coisa que você tem em mente depois de um divórcio ou separação. Contudo, esses eventos podem ter um grande impacto em seu imposto. Pensões e mudanças de nomes são apenas alguns ítens que precisa considerer. Aqui estão algumas dicas para manter em mente se você se separou ou divorciou.

  • Pensão para filhos. Se você paga child support, você não pode deduzir no seu imposto de renda. Se você recebe, não é cobrado imposto sobre este valor.
  • Pensão para cônjuge. Se você faz pagamentos estipulados em corte, este valor pode ser deduzido do seu imposto.
  • Pensão para cônjuge. Se voce recebe pensão do seu ex-marido ou esposa, esta renda é tributada.
  • Mudança de nome – Se você mudou o seu nome depois do divórcio, notifique o Social Security sobre esta mudança. Envie o Formulário SS-5. Para obeter este formulário acesse www.ssa.gov ou ligue 800-772-1213.

Fonte: irs.gov

CP TAX SERVICES, 774-843-2167, 449 Boston Post Rd. E, Ste. 3, Marlborough, MA 01752



Dicas para Estudantes

A cada ano cresce o número de estudantes brasileiros aqui nos Estados Unidos, e geralmente durante o verão eles aproveitam para trabalhar e ter uma renda extra. Se este for o seu primeiro trabalho você terá a chance de aprender um pouco mais sobre trabalho e pagamento de impostos nos Estados Unidos. O imposto que você paga ajuda a cidade, o estado e o país. Aqui estão algumas dicas importantes:

  • Imposto Retido e Imposto Estimado – Se for um empregado, seu empregador irá descontar os impostos semanalmente do seu salário. Se for um autônomo, você terá que pagar o “Estimated Tax”, imposto estimado, direto para o governo Americano.


  • Novos Funcionários – Se você tem um novo trabalho, precisa preencher o formulário W-4, este formulário irá indicar quanto será descontado de imposto do seu salário.


  • Autônomo (Self Employed) – Para fazer o imposto corretamente mantenha arquivos organizados com toda sua renda e despesas que podem ser deduzidas no imposto, isso pode te fazer economizar impostos.


  • Gorjetas Recebidas – Todas as gorjetas recebidas são tributadas, mantenha anotações diárias com as gorjetas recebidas.


Estas são algumas dicas importantes para você que pode não estar familiarizado com o sistema tributário Americano, e aproveite o verão porque ele passa muito rápido.

Start Planning Now for Next Year’s Taxes
You may be tempted to forget all about your taxes once you’ve filed your tax return. Do not give in to that temptation. If you start your tax planning now, you may avoid a tax surprise when you file next year. Now is a good time to set up a system so you can keep your tax records safe and easy to find. Here are some IRS tips to give you a leg up on next year’s taxes:

  • Take action when life changes occur.  Some life events can change the amount of tax you pay. Some examples that can do that include a change in marital status or the birth of a child. When they happen, you may need to change the amount of tax withheld from your pay. To do that, file a new Form W-4, Employee’s Withholding Allowance Certificate, with your employer. Use the IRS Withholding Calculator tool on IRS.gov to help you fill out the form.
  • Report changes in circumstances to the Health Insurance Marketplace.  If you enroll in insurance coverage through the Health Insurance Marketplace in 2015, you should report changes in circumstances to the Marketplace when they happen. Report events such as changes in your income or family size. Doing so will help you avoid getting too much or too little financial assistance in advance.
  • Keep records safe.  Put your 2014 tax return and supporting records in a safe place. If you ever need your tax return or records, it will be easy for you to get them. For example, you may need a copy of your tax return if you apply for a home loan or financial aid. You should use your tax return as a guide when you do your taxes next year.
  • Stay organized.  Make tax time easier. Have your family put tax records in the same place during the year. That way you won’t have to search for misplaced records when you file next year.
  • Shop for a tax preparer.  If you want to hire a tax preparer to help you with tax planning, start your search now. Choose your tax preparer wisely. Use the Directory of Tax Return Preparers tool on IRS.gov to find tax preparers in your area with the credentials and qualifications that you prefer.
  • Think about itemizing.  If you claim a standard deduction on your tax return, you may be able to lower your taxes if you itemize deductions instead. A donation to charity could mean some tax savings. See the instructions for Schedule A, Itemized Deductions, for a list of deductions.
  • Stay informed.  Subscribe to IRS Tax Tips to get emails about tax law changes, how to save money and much more. You can also get Tax Tips on IRS.gov or IRS2Go, the IRS mobile app. You’ll receive Tips each weekday in the tax filing season and three days a week in summer. You will also get Special Edition Tax Tips at other times during the year.
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Tax Season Come and Gone

cp_tax_services_marlborough_MAApril 15 has come and gone. If you didn’t file a tax return or an extension but should have, you need to take action now. Here are some tips for taxpayers who missed the tax filing deadline:
•File as soon as you can. If you owe taxes, you should file and pay as soon as you can. This will stop the interest and penalties that you will owe. There is no penalty for filing a late return if you are due a refund. The sooner you file, the sooner you’ll get it.
•Use IRS e-file to do your taxes. No matter who prepares your tax return, you can use IRS e-file through Oct. 15. E-file is the easiest, safest and most accurate way to file your taxes. The IRS will confirm that it received your tax return. The IRS issues more than nine out of 10 refunds in less than 21 days.
•Pay as much as you can. If you owe tax but can’t pay it in full, you should pay as much as you can when you file your tax return. IRS electronic payment options are the quickest and easiest way to pay your taxes. Pay the rest of the tax you still owe as soon as possible. Doing so will reduce future penalties and interest.
•Use the IRS.gov tool to pay over time. If you need more time to pay your tax, you can apply for an installment agreement with the IRS. The best way to apply is to use the IRS Online Payment Agreement tool. You can use the IRS.gov tool to set up a direct debit agreement. You don’t need to write and mail a check each month with a direct debit plan. If you don’t use the tool, you can use Form 9465, Installment Agreement Request to apply. You can get the form on IRS.gov/forms at any time.
•A refund may be waiting. If you are due a refund, you should file as soon as possible to get it. Even if you are not required to file, you may still get a refund. This could apply if you had taxes withheld from your wages or you qualify for certain tax credits. If you do not file your return within three years, you could lose your right to the refund.