Notes

Rea & Associates Shares Information Regarding Charitable Donations
Business
Is this free article relevant to this category?

Matthew Boley - RZ PR C418 c
Rea & Associates, an accounting and business consulting firm with offices around Zanesville, recently published an informative article for nonprofit organizations and donors, alike. In accordance with a spokeswoman with the firm, ?LEARNING ?THE BUSINESS ENTERPRISE End? OF Charitable Donations,? was published as a way to help charities more smoothly substantiate donor contributions ? which, in line with the article?s author, requires more than simply sending a ?many thanks? note.

Rea & Associates CPA Firm stated that, in order for donors to claim deductions on the tax returns, donors must have a written acknowledgement of these donation, particularly if certain thresholds are met. In line with the firm?s spokeswoman, these thresholds include quid pro quo donations (whenever a donor receives goods or services from a charity in trade for a contribution more than $75) and cash donations of $250+. Rea also mentioned that non-cash donations more than $500 typically require donors to perform Form 8283, with the charity completing underneath half. here indicated that non-cash donations in excess of $5,000 require official appraisal, plus the completion of Form 8283.

Rea advised that ways of formally acknowledging a charitable donation can include (but are not limited by) emails, letters, and postcards. Rea also stated that written acknowledgement needs to are the name of the business, the amount of the donation, and a statement confirming that no goods or services were provided to the donor in trade for the donation (if this is the case). Rea also said that written acknowledgements should be provided no later than January 31st for donations from the prior year. Further information concerning charitable donation claims can be found at http://www.reacpa.com/insight/will-you-claim-charitable-donations-on-this-years-tax-return/

A spokeswoman with the firm explained that the firm has been providing financial advice to Ohioans and small- to medium-sized businesses since 1933. Today Rea employs more than 300 accountants and business accountants from 13 offices over the state. Reviews are for sale to the regional CPA firm at https://www.google.com/maps/place/Rea+%26+Associates+CPA/@40.1023683,-83.1479485,17z/data=!3m1!4b1!4m5!3m4!1s0x0:0xeacdd16ca708fd03!8m2!3d40.1023683!4d-83.1457598?hl=en
Here's my website: https://thegadgetflow.com/user/powersmcgregor184