Charitable Giving Information

Archive for June, 2008

Charitable Giving Europe

Question: Does socialism destroy altruism?

I dislike giving homeless people money (I do it anyway), because I feel that that’s why we pay for government welfare. If there was no welfare, hence lower taxes, I think I would give more money, however. I’ve also heard that while Europe’s governments give more foreign aid, our personal donations are significantly higher. So does government redistribution of wealth hurt personal charitable contributions? Would people as a whole give more or less if there was no welfare system in place?

Answer: In Socialism there would be no underclass who have to survive on charity, there would be no homelessness and no poverty. Socialism is by it's very nature altruistic as each receives according to their needs and gives according to their ability. Europe is not Socialist, but Social democratic - it has a welfare state and capitalism. The people who fall through the safety net are still reliant on charity and Yes Europeans continue to support them despite the welfare state. People charitable aid goes in different places some give to help the poor in their home nations, some abroad and some to research charities or animal welfare, the greater the state aid for the poor means less charity will be needed for them, but this is Good thing as it is the states responsibility to look after it's people. People would continue to give to the other charities

Volunteering in an Eastern European orphanage in Moldova

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Salvation Army Car Donations California

Tag:Barefoot Kids,The National Center for Children in Poverty reports,new footwear,shoes and sneakers
From:http://www.buy-shoes-china.com/

  Barefoot Kids Foundation and Sammy’s Woodired Pizza Restaurant held a fundraiser dinner on Wednesday, June 25, 2008 from 5 to 9pm at two locations in Carlsbad and Scripps Ranch in San Diego County to benefit local Kids in Need.
  Sammy’s Restaurant will donate 20% of your dinner bill to the Barefoot Kids Foundation. Enjoy the food and help generate donations for a good cause. Go to www.barefootkids.org/Events.html to print the donation coupon that is required.
  Barefoot Kids Foundation and various childcare organizations have teamed-up to provide $25. Payless Footwear Shopping Cards to local Kids in Need.
  This Non-Profit organization exclusively provides new footwear to Kids in Need through their National Distribution Network currently in 27 cities throughout the USA. Childcare organizations such as Boys & Girls Clubs, Big Brothers Big Sisters, Salvation Army and Court Appointed Special Advocates provide Payless ShoeSource shopping cards to underprivileged Kids.
  The National Center for Children in Poverty reports that 17% or 12.7 Million of our children live below the poverty level. Footwear is often not on the list after the bills, food & medical care are paid. Many of America’s Kids are in desperate need of new footwear.
  Everyone can relate to the pride you get when you buy new footwear. Remember those early years when you were fitted for new shoes and sneakers, it was a great moment. You couldn’t wait to show them off. Share this thrill with a San Diego County Kid in Need.
  More Kids will participate in physical activity, and be healthier when wearing proper fitting footwear. They need to feel comfortable and need to fit in with their peers. The distraction of foot pain during class may affect the Kids ability to focus on learning. Studies published in Medical Journals conclude that proper footwear can improve your health. Kids in San Diego need your help.
  The online Free Donation program is now available by making online purchases with participating retailers. Each purchase you make generates a donation from their retail supporters. Go to www.barefootkids.org/Supporters and buy Airline, Hotel, Car Rental, Flowers, Electronics, Office Supplies, Event Tickets, Gifts and everything that EBay and Amazon.com offers. To make a Free Donation, just Point, Click and Buy.
  Barefoot Kids Foundation has different ways for you to donate. Individuals and Corporate donors can use Credit or Debit Cards on their secure PayPal website: www.barefootkids.org/Donate or send a check payable to: Barefoot Kids Foundation, 7040 Avenida Encinas, Suite 104, Carlsbad, California 92011-4653. Everyone can contribute and improve the life of San Diego’s Kids.

About the Author:

Tag:Barefoot Kids,The National Center for Children in Poverty reports,new footwear,shoes and sneakers
From:http://www.buy-shoes-china.com/

Article Source: ArticlesBase.com – San Diego Fundraiser Provides New Shoes for Kids in Nee

High School Fundraising Projects

Question: High School Fundraising Ideas- Please help!?

I am the Treasurer of my high school, and I want to start a fund raising project so that I can help raise money for my school. We have a big student population (~4000 students) so I want to try to get the most students to participate. Originally, I was planning on collecting Box Tops 4 Education, but unfortunately I found that the Box Tops 4 Education Program does not support high schools. So please give me any advice or suggestions/ideas regarding about fund raising. I really want to do a great job as the school’s treasurer, so any suggestion or comment is helpful and much appreciated! Thank you!

Answer: What about a Coffee fundraiser?
Specialty coffee and beverages is an exploding market nationwide and people are going to buy it anyway, therefore, why not have some of the money profit your group/organization. Java Joe's Roasting Company is an upstate New York based coffee roaster, who specializes in fundraising. Organizations will realize a profit of $2.50 or more per bag sold. The products will be customized to promote your organization (free of charge) and there are no set up fees or minimums. This fundraising program is equitable and offers your supporters a first class practical product that is perfect for every day use. Good luck! I hope I was able to help.

p.s. My son's preschool made $2,496 during a 2 week campaign.

WILLY SAN JUAN - RAMON MAGSAYSAY ( CUBAO ) HIGH SCHOOL 2007

Donations Tax Deductions

Question: What are some common tax deductions?

I recently bought a house, so I now itemize my tax returns. My finances are very simple. Can I write off student loan interest? medical expenses not covered by insurance? I do charitable donations, but am trying to get more creative. What about work clothes (suits)? Laptop (if I use it for work from time to time)?

Answer: The itemized schedule of deductions form will walk you through the possible deductions you can take. You can deduct interest paid on your home, but not other interest. You can deduct medical expenses that you paid out of pocket, but only to the extent that they exceed 7.5% of your adjusted gross income. Charitable donations are allowed. Work clothes are only deductible if they could only be worn in your job. (So most uniforms are deductible, regular clothing you could wear off the job is not deductible). Work expense, such as computer or home office has to be completely for work only in order to deduct. There are also some rather specific things, such as self-employed health insurance premiums, some student loan interest, certain qualifying child care expenses.

With a simple finance situation, you can easily do this by yourself if you read the instructions.

TurboTax Tips - Five Things To Know About Charitable Contributions

Tax Planning For Businesses

Many work hard and meet with success, as they batter through storms, handle market swings and keep consumers satisfied. You achieved all this for yourself and your family. But have you spent one minute and thought about what would happen to your business when you are not there? If you haven’t, then it is high time you gave it a serious thought. So here are some simple business succession and estate tax planning strategies.

According to a market survey, 25 percent of the family business shareholders who are senior citizens have not thought of any estate succession planning other than writing a will. They have not bothered to conduct any research. If you are one of them then wake up, succession planning for business involves more than just deciding whom you intend to give your assets to, after your death.

Basically, succession planning is like a road map for successors, heirs and partners to follow when you are no more or when you are unable to handle the business issues due to disability or old age. This plan can include the business stock distribution, assets and life insurance distribution details. It can also include debt retirement services, buying and selling agreements between heirs and partners, division of responsibility allotted to successors and any other aspects that would be related to the business. The plan can also establish the value of the business.

So where should you start from?

A succession planning strategy must clearly explain your objectives and goals as well as your company’s present financial resources and the current human resources. It should also explain your stand in the company and the details of the stock you hold. You can also mention the person whom you feel can manage the business once you are out of the picture. Calculate if you have enough assets to pay estate tax so as to balance the estate and keep the business and the monetary resources you need to reach your financial goal. Don’t forget to clarify each goal and you should be open to communicate and share your vision with partners, key players, and family.

How to develop a sound succession plan?

. A succession plan should be flexible- Your plan must be easy to amend and modify as business, family and health situations are dynamic.

. Select the right individual to handle the company in your absence- Select a person, whom you find capable to navigate through the minefield. This is necessary if you have more than one qualified successor. Distribution of money and assets among the siblings sometimes can be really discordant.

. Knowledge of federal estate tax- Economic Growth and Tax Relief Recognition Act of 2001 attempted to eliminate or reduce the federal estate tax transfer system, but instead it created a tax system that features repeal, relief and reappearance. From 2004, the gift tax exemption was freezed at $1 million. Thus, a businessman can easily pass on more assets after his death than during his lifetime.

Learn about various exemptions, deductions, exclusions- You can reduce the estate tax by adapting the annual gift tax exclusion in which you can relax the gift tax to the tune of $11,000 per year.

About the Author:

Sacramento CPA Firm Murray and Young offer Tax Representation by a former IRS auditor. For useful articles and tips by Sacramento Estate Tax Planners, please visit our website at http://www.april15.com.

Article Source: ArticlesBase.com – Business Succession And Estate Tax Planning Strategies

Business Tax Planning & Business Tax Accounting