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Category Archives: Income Tax Planning
The average tither or charitable donor making their gifts using checks or cash will find themselves facing massive tax penalties at audit if the charity receiving the gift fails to comply with one of the simplest charitable giving rules. Continue reading
So, after dodging the aforementioned honest young lady for several days, I finally admitted that while I’d completed her return, I felt I was making a error somewhere. I just couldn’t understand why she suddenly owed an amount in the thousands when she usually only owed no more than $300.00. And that was considered a bad year.
After much conversation, she finally became very quiet. I just knew I’d lose her as a client. And then, the clouds of doubt and gloom parted when she said, “Mr. Greaves, I think I know why I owe so much.”
Thank you for giving us more money during this last year than you were required to. Because of your kindness, we were able to use your refund as well as the pending refunds of millions of your fellow citizens to earn interest. We lent money to countries that may or may not pay us back. We even used some of the money to feed people in other countries who hate our way of life, especially since we ‘allow’ women the sacred rights of driving a car, or going for a walk by themselves. Let’s not even talk about the right to vote. Continue reading