How to Make Your First Estimated Tax Payment After Filing an Extension
To make your first estimated tax payment by April 15th, follow these steps: Calculate Your Estimated Tax Liability Estimate Your Income: Project your income for the year, including wages, dividends, interest, and any other sources. Deductions and Credits: Estimate your deductions and credits to reduce your taxable income. Tax Rate: Apply the appropriate tax rate…
Sample acknowledgment letter for a stock donation
[Church Name] [Church Address] [City, State, ZIP Code] [Date] [Donor Name] [Donor Address] [City, State, ZIP Code] Dear [Donor Name], On behalf of [Church Name], I would like to extend our heartfelt gratitude for your generous donation of stock. Your support is invaluable to our mission and helps us continue our work in the community….
How should a church handle donation of stock?
Handling the donation of stock for a church involves several important steps to ensure compliance, proper valuation, and acknowledgment. Here’s a comprehensive guide: Establish a Brokerage Account Open an Account: The church must establish a brokerage account in its name to receive and manage stock donations. Choose a Broker: Consider using a discount broker (e.g.,…
Should I Be Afraid to File a Tax Extension
If the looming April 15 tax deadline has you stressed, take a deep breath—you have time and options. Every year, many clergy rush to file by the deadline, often missing key deductions, making costly errors, or settling for a hurried filing experience. However, here’s the truth: filing a tax extension can be a strategic advantage,…
