IRS Tax Tips re Charitable Contributions | Rodman & Rodman, P.C.

28 Апр 2014 | Author: | Комментарии к записи IRS Tax Tips re Charitable Contributions | Rodman & Rodman, P.C. отключены
Rodman 30

By Thomas Tax Director

are some directly from IRS, about and deducting charitable contributions.

Summertime Tax 2010-21

Did make a to a this year? so, you be able take a for it your 2010 return.

Here the top things the wants every to know deducting charitable

1. Charitable must be to qualified to be You can any organization it is qualified organization most will able to you. You also check Publication 78, List of which lists qualified organizations. Publication 78 available at

2. Charitable are deductible if you deductions using 1040, Schedule

3. You can deduct cash contributions the fair value of property you to a organization. Special apply to types of property, including or household cars and

4. If contribution entitles to receive goods, or in return such as to a banquet or event – can deduct the amount exceeds the market value the benefit

5. Be to keep records of contribution you regardless of amount. For contribution made cash, you maintain a of the such as bank record including a check or bank or card statement a written from the containing the and amount the contribution the name the organization, a payroll record.

6. Only actually made the tax are deductible. example, if pledged $500 September but the charity $200 by 31, your would be

7. Include credit charges and by check the year are given the charity, though you not pay credit card or have bank account until the year.

8. For any of $250 more, you have written from the to substantiate donation. This proof must the amount cash and description and faith estimate value of property you and whether organization provided goods or in exchange the gift.

deduct charitable of items at $500 more you complete a 8283, Noncash Contributions, and the form your return.

10. An appraisal must be if you a deduction a contribution noncash property more than In that you must fill out B of 8283 and the form your return.

more information IRS Publication Charitable Contributions, for information determining value, to Publication Determining the of Donated These publications available at or by 800-TAX-FORM (800-829-3676).

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