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STRATEGIC ISSUES...ONLINE 
For week of December 18, 2006, Issue #287
 
Featured Articles:
1.  Other Charitable Options
2.  Tech Tip Weekly:  Drag-and-Drop Fun in MS Excel
 
 
If you would like to have further information on any of these articles, let us know.  We would appreciate receiving your comments and/or suggestions, anytime!
acarroll@pmcpa.com
 
1.  Other Charitable Options
 
During the holiday season, many of us want to support our favorite charities.  Your first thought might be to write a check, but there are other ways to give.  You might even receive a tax break in the process.
 
Donate appreciated securities
With the stock market near all-time highs, you may have shares of stock that have gained value since you bought them.  Consider donating some of these shares to a qualified charity instead of giving cash.  You could earn yourself one or two tax breaks.
 
First, if you itemize deductions you can claim a tax deduction.  You can generally deduct the full market value of the shares at the time you make your donation.  and you'll escape paying the capital gains tax that you'd owe if you sold the shares and donated cash instead.  Make sure you've held the shares at least a year though, or your deduction will be limited to your cost basis.
 
Donate other property
Many of us donate used clothing and household items to thrift stores or other charities.  a new rule says that you can claim a deduction only if the items are in "good" condition.  Unfortunately, the new law doesn't define what is meant by "good."  Make sure you obtain a receipt for your donation.  You'll also need an appraisal if the item is valued at over $5,000.
 
Vehicles and Boats
Last year the IRS tightened the rules for donations of used vehicles or boats.  Generally your deduction is limited to the gross proceeds the charity earns from selling the vehicle.  You should receive a notice from the charity showing this amount.
 
Mileage
Finally, remember to claim 14 cents a mile if you used your car for charitable activities.
 
If you need more information or assistance with this or any tax concern, give us a call.
 
 
HAPPY HOLIDAYS FROM ALL OF US HERE AT PRANGLEY MARKS, LLP!
 
 2.  Tech Tip Weekly:  Drag-and-Drop Fun in MS Excel
 

In MS Excel, drag-and-drop spreadsheet editing is most effective in two situations: when you not only need to move or copy a range of cells to a new (blank) place in the worksheet, but also when you want to insert the cells into an existing table of data. To do this kind of insert moving or copying, you must hold down the Shift key as you drag the cell selection to its new position. MS Excel indicates where the selected data will be inserted at the time you drop it by displaying an I-beam-type indicator in front of the mouse pointer:

  • When the I-beam pointer runs horizontally between rows, you know that the selection will be inserted as a new row in the existing table of data.
  • When it runs vertically between columns, you know that the selection will be inserted as a new column in the table.
 
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