Charitable Donation Tax Deductions - Tips for Business Owners

[@TheFlemingtax]

Jamie, from one CPA to another, nice job breaking down these topics, especially donor advised funds. Great presentation, great personality, keep up the great work!

[@JamieTrull]

I appreciate this so much Tyler! Thanks!!

[@strong4520]

This is the most important video I’ve watched on KZbin as a nonprofit owner. Thank you very much for the simplicity yet informative.

[@JamieTrull]

I'm so glad you found it helpful!!!

[@picrureperfect8476]

Why can’t every video be this clear and simple? And of course this video doesn’t have many videos because KZbin is just like that.. thank you for this one! I had a question which is now answered without having to watch 10 minutes of B roll and shmancy intros

[@JamieTrull]

You're so welcome! I'm glad my video was helpful!

[@KatieLibby1315]

Very excited to have opened our DAV in 2021. We donate around $10,000 annually anyway so by putting $25,000 into a DAV we are moving funds from a taxable IRA to a DAV and getting that tax write off plus morgage/home equity and state taxes. It is like starting a mini foundation.

[@JamieTrull]

Yes! We love ours too! Just remember to donate only stock you've held over 1 year, otherwise you don't get the same tax benefits!

[@DrTriciaGroff]

It's a little hard to impress me, and I was impressed. Thank you so much for the information that goes above the basics--helped me think more strategically.

[@JamieTrull]

Thank you for the kind words! So glad this information could be helpful 😊

[@CutRIght-gl7qn]

Learned a lot from this video. Recently founded LLC, thank you for the advice. Perfectly said & taught imo.

[@JamieTrull]

So glad it was helpful!

[@e2U]

I have rental equipment, and can I write off the rental fee I usually charge if I donate the use to a 501 c3 cause? Thank you, jeff

[@glittercupkate]

Hey Jamie, I need to find a CPA who is familiar with real estate investing. Can you recommend one please?

[@JamieTrull]

Check out this video kzbin.info/www/bejne/ammrgn5qppV4f5o

[@DarElBarka]

Who to give inventory to?

[@_JellyDonut_]

What kind of business do you have? That would help determine who you can give inventory to

[@JamieTrull]

Great question, I would love to answer that for you on my next live show! You can submit this question here for me to answer: www.JamieTrull.com/KZbin

[@ShadowbladeBook]

Hi Jamie. You mentioned donating inventory, but i didnt get where and how to report this. Is that calculated and reported as a "loss", or is it calculated in the beginning/ending inventory section, or something else? I closed my fishing tackle business and donated all of my inventory to a 501c3 charity that takes disabled veterans on fishing charters. So, its a very realistic donation. Im just trying to find out how best to report this (not as an itemized deduction).

[@JamieTrull]

Thank you for reaching out with your question. Since it involves specific personal details and might require tailored advice, I recommend consulting with a Certified Public Accountant (CPA) who can provide you with one-on-one guidance. Unfortunately, I'm unable to offer such personalized services through this platform. Wishing you the best with your situation!

[@ShadowbladeBook]

@@JamieTrull You and I already communicated by email. Thanks so much for your assistance!!

[@sagarbhavsar290]

Lovely

[@MuhammadAli-jy4bv]

Thanks 😊 You Explained very Well butt I don't understand English 😁

[@Philcollen.]

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