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Author: Ethel Dela Cruz

Charitable Contributions Guide

Charitable Organizations Qualified charitable organizations include nonprofit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty to children or animals. Examples of Qualified and Nonqualified Organizations Qualified• Churches, mosques, temples, synagogues, and other religious organizations.• Boy and

Capital Gains and Losses

Capital Assets Most property you own and use for personal or investment purposes is a capital asset. For example, a house, furniture, car, stocks, and bonds are capital assets. Noncapital Assets A capital asset is any property held by you except the following.• Stock in


Representation Individual taxpayers who are under audit by the IRS may attend the audit in person without any assistance from a tax professional. However, this can be a dangerous mistake. Although not officially stated, it is the job of an IRS Revenue Agent to conduct

Advance Child Tax Credit

   Advance Child Tax Credit Payments Important changes to the Child Tax Credit will help many families get advance payments of the credit starting this summer. The IRS will pay half the total credit amount in advance monthly payments beginning July 15. You will