August 23, 2010
Courtesy of the IRS via email - Summertime Tax Tip 2010-21
Did you make a donation to a charity this year? If so, you may be able to take a deduction for it on your 2010 tax return. Here are the top 10 things the IRS wants every taxpayer to know before deducting charitable donations.
1. Charitable contributions must be made to qualified organizations to be deductible. You can ask any organization whether it is a qualified organization and most will be able to tell you. You can also check IRS Publication 78,
Cumulative List of Organizations, which lists most qualified organizations. IRS Publication 78 is available at IRS.gov.
2. Charitable contributions are deductible only if you itemize deductions using Form 1040, Schedule A.
3. You generally can deduct your cash contributions and the fair market value of most property you donate to a qualified organization. Special rules apply to several types of donated property, including clothing or household items, cars and boats.
4. If your contribution entitles you to receive merchandise, goods, or services in return – such as admission to a charity banquet or sporting event – you can deduct only the amount that exceeds the fair market value of the benefit received.
5. Be sure to keep good records of any contribution you make, regardless of the amount. For any contribution made in cash, you must maintain a record of the contribution such as a bank record – including a cancelled check or a bank or credit card statement – a written record from the charity containing the date and amount of the contribution and the name of the organization, or a payroll deduction record.
6. Only contributions actually made during the tax year are deductible. For example, if you pledged $500 in September but paid the charity only $200 by Dec. 31, your deduction would be $200.
7. Include credit card charges and payments by check in the year they are given to the charity, even though you may not pay the credit card bill or have your bank account debited until the next year.
8. For any contribution of $250 or more, you must have written acknowledgment from the organization to substantiate your donation. This written proof must include the amount of cash and a description and good faith estimate of value of any property you contributed, and whether the organization provided any goods or services in exchange for the gift.
9. To deduct charitable contributions of items valued at $500 or more you must complete a Form 8283, Noncash Charitable Contributions, and attached the form to your return.
10. An appraisal generally must be obtained if you claim a deduction for a contribution of noncash property worth more than $5,000. In that case, you must also fill out Section B of Form 8283 and attach the form to your return.
For more information see IRS Publication 526, Charitable Contributions, and for information on
determining value, refer to Publication 561, Determining the Value of Donated Property. These publications are available at IRS.gov or by calling 800-TAX-FORM (800-829-3676).
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August 19, 2010
Courtesy of FAI
Can
the poorest be reached with finance? “Ultra poor” members of society
face a series of constraints and deprivations that distinguish them
from the general poor. Limited social networks, chronic malnutrition,
and reliance on patronage systems characterize a socioeconomic class
that is hard to “bank.” Research now indicates that most microfinance
institutions serve poor and lower-income customers, but not the
poorest. A new FAI Framing Note
on “Targeting the ... Continue reading...
Posted by Editor C. Posted In :
Guest Blogger
August 4, 2010
(Via BusinessGreen) American Businesses for Clean Energy (ABCE) group, one
of the leading corporate coalitions pushing for the adoption of climate change
legislation, last week released an analysis of green business lobby groups
revealing that more than 6,000 firms are now fully in favour of clean energy and
climate legislation The
study said that combined, the companies, which include 21 Fortune 100
companies and many of the largest corporate names in the US, employ 3.5 million
people and hav... Continue reading...
Posted by Contribuitor. Posted In :
News
July 27, 2010
By Rose Anderson
The dangers of anthropogenic climate change can be viewed as both a challenge and an opportunity. Each state in the US has unique opportunities to prosper by participating in the reduction of green house gas (GHG) emissions. In Oregon, there are many unique opportunities to strengthen the Oregon economy and improve the well-being of current and future generations through GHG reduction. Why Investment in GHG Reduction Makes Sense for Oregonians?• In Oregon, there are more t... Continue reading...
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News
July 24, 2010
Via Woods Institute for the Environment at Stanford University
Our colleague and good friend Steve Schneider, the Melvin and Joan Lane
Professor for Interdisciplinary Environmental Studies and senior fellow
at the Woods Institute for the Environment at Stanford, died on July
19, 2010, while traveling from a meeting in Stockholm to London. Steve
was not only a man of formidable intellectual depth and breadth, but
also a committed and compassionate advisor, mentor, teacher and friend.
... Continue reading...
Posted by Ana M. Posted In :
Must read
July 21, 2010
Via CSR NewsWire The Aspen Institute Energy and Environment Awards are presented during the Aspen Environment Forum,
a gathering of more than 300 thought leaders that will take place from July 25-28, 2010, at the Institute's Aspen Meadows campus in Aspen, Colorado. The 2010 Aspen Environment Forum is a public gathering of more than 300 thought leaders, scientists, journalists, academics, policy makers, and citizen, presented by the Aspen Institute and National Geographic.
The winners will be p... Continue reading...
Posted by Editor
July 14, 2010
By Maria Fernanda Rivera
For the past two years, Microfinance Organizations (MFIs) in Nicaragua and some of its clients have been at odds concerning overdue loans. This tension resulted in the creation of the “No Payment Movement” (NPM), which manifested itself in street protests, some violent, and culminated with the creation of a Moratorium Law. Both sides lobbied heavily. Some are more content than others with the resolution, but more importantly this was an eye-opening opportunity for... Continue reading...
Posted by Ana M
July 7, 2010
By Rose Anderson
Providing access to safe water is a priority for all
nations, as water is a limited resource essential to human health and economic
activity. For many people in Africa, there is little or no access to safe
drinking water. Water scarcity in Africa is expected to increase in the near
future due to economic growth and increasing populations. By 2025, 45% of the
populat... Continue reading...
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Must read
June 21, 2010
by Timothy Curran
Perhaps surprisingly, the Greendex study which surveys
17,000 people, 1000 in 17 different countries, on their habits and attitudes in
relation to consumer choices finds that the residents of developing nations of
Brazil, India and China are the most sustainable consumers. France, Canada and
the USA rank the lowest.
While these results may be encouraging to those concerned
with how economic growth will affect the environment, they do not sit well with
the environmental real... Continue reading...
Posted by Editor. Posted In :
News
June 15, 2010
Maria Fernanda Rivera In
2008, the official unemployment rate in Honduras was 3.5%, lower than
the US rate of 5.8% for the same year and more than half of the world
average of 7.2%. With such a high percentage of people participating in
the labor market, how is it that around three fourths of the Honduran population lives in poverty? The problem lies in the roughly 50% of the employed population working in the informal economy. The
informal economy is a low-productivity and low paying sector,...
Posted by Editor. Posted In :
News
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