Charitable contribution

Charitable contributions aren’t always eligible for tax deductions — even when the not-for-profit recipient is tax exempt and the donor itemizes. Take “quid pro quo” donations. These transactions occur when your organization receives a payment that includes a contribution and you provide the donor with goods or services valued for less than the total payment.

a hospital glove holding a pen and writing "donate" in a checkbook' image used for blog post about not-for-profit contributions being quid pro quo

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Continue Reading Quid Pro Quo Not-for-Profit Contributions – What to Know

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, the limits remain unchanged for 2016:

Type of limit 2016 limit

Elective deferrals to 401(k), 403(b), 457(b)(2) and 457(c)(1) plans $18,000
Contributions to defined contribution plans $53,000
Contributions to SIMPLEs $12,500
Contributions to IRAs $5,500
Catch-up contributions to 401(k), 403(b), 457(b)(2) and

As the end of the year quickly approaches, the holiday spirit glows a little brighter with each passing day. It causes us to consume ourselves with putting up lights and decorations, attending holiday parties, and enjoying all of the different holiday concoctions offered by Starbucks. But more importantly, the holiday spirit renews our sense of