RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Tips for Tax-Deductible Charitable Donations

November 22, 2017 1:42 am

At the end of the year, thousands of Americans rush to make charitable donations to offset their taxes or help out their favorite causes. According to Senior CFP Board Ambassador Jill Schlesinger, CFP®, too often, Americans  may not recognize two keys to smart giving: careful vetting of charities, and tax planning that helps make the most of a gift.

"Considering how many people make charitable gifts at year-end, it's amazing how little thought and research can go into the process," Schlesinger says. "There are fake charities and scam artists who take advantage of generosity."

To combat this, Schlesinger offers the following checklist for Americans who are preparing to make end-of-year donations.

Step 1: Confirm the charity is legitimate by searching the IRS tool, Exempt Organizations Select Check. Cross-reference by asking the organization for its employee identification number, and then searching the same database for it.

Step 2: Research the charity's financial health. The Better Business Bureau's (BBB) Wise Giving Alliance, Charity Watch, GuideStar and Charity Navigator offer guidance on how charities spend money. Many Americans want to understand what portion of a donation goes to overhead, versus the cause itself.

Step 3: Determine how to donate. Options include donations of goods, checks, wire transfers and credit card payments. Americans can also donate appreciated securities and write off the current value of a stock, or make donations directly from their IRAs, though some rules apply.

Step 4: Keep good records. For any donation valued at $250 or more, the IRS requires a bank record, payroll deduction or written communication identifying the organization, the date and amount of the contribution and a description of the property.

To be deducted from 2017, donations must be given or postmarked by midnight on December 31.

Source: Certified Financial Planner Board of Standards, Inc.

Published with permission from RISMedia.


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Heat and Air Maintenance for the Holidays

November 22, 2017 1:42 am

With the holiday season right around the corner, your home will likely see more foot traffic. From friends stopping by with gifts, to parties and that yearly visit from the in-laws, your plumbing, heating and air units may be working overdrive.

"Attention to a few items in the home can help prepare you for visiting family and friends during the holidays," says Mike Nicholson, owner of Nicholson Plumbing, Heating & Air Conditioning. "Now is the time to take action on winterizing certain things in and around the home. It will give you peace of mind as the weather turns colder and holiday guests visit your home."

Nicholson offers these five tips to make sure the home is ready for colder weather and holiday visitors:

Check the plumbing: With the influx of visitors, toilets and fixtures will get a lot of use. Now is the best time to take care of any maintenance and repairs. If drains aren't flowing well and freely, plunge water into the drain first before you try to remove the trap in an attempt to clear it. Be mindful that some do-it-yourself, chemical drain cleaners can be harmful to your pipes. Instead, consider trying a natural remedy: pour equal parts salt, baking soda and vinegar to clean out a partial clog.

Tune up the heating: Winter often brings extremely cold temperatures, so you want to be sure your heating unit is working at peak efficiency. To make sure everyone is warm during the cold weather, try changing out your filters to give your system the best chance of success. You may also need a comprehensive heating system check. A system tune-up and filter replacement can go a long way toward preventing problems from putting a chill on your holiday plans.

Clean air ducts: To provide fresh, allergen-free air to your holiday houseguests, you will want to perform a thorough duct cleaning. When your ducts are filthy, your filters clog up faster and force your system to work harder to distribute air. This decreased efficiency leads to higher energy bills and excessive wear and tear on your system. Removing the registers and vacuuming the outlet is a good start, but you may want to opt for a whole-house duct cleaning to really do the job.

Seal drafty windows and doors: Applying caulk or weather stripping where cold air creeps in will help with energy savings. If cold air creeps in, that too will put a strain on the heating system's ability to keep your house warm and cozy for the holidays.

Winterize the exterior: To prevent pipes from bursting, ensure outdoor spigots are shut off as freezing weather approaches. Have some rock salt on hand to de-ice sidewalks to make sure your holiday visitors are safe.

Source: Nicholson Plumbing, Heating and Air Conditioning

Published with permission from RISMedia.


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