Category - Charitable Contributions

Yes, but be very careful. To deduct a contribution made to a qualified organization, the donation must not be earmarked or directed by the donor. However, and this is a big however, if you notify the organization that you prefer the donation to go to[...]

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Yes.  Period.  Okay, there is one tiny exception[...]

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Perhaps.  No one can say for sure, but there are donation ratios and averages that the IRS can use to determine if you are an outlier.  In addition, the reporting requirements on your tax returns are changing every so often giving the IRS [...]

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For cash, this is easy.  But for those property donations where a receipt or written statement did not reflect the amount or value, there are several ways to assign the fair market value[...]

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There are several different types of property donations, some of which are very obscure.  Generally your donation of clothing, household items, food, cash and cars are the most common.  However, you can also donate taxidermy property ([...]

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Students Living With You: You may be able deduct qualifying expenses for a foreign or American student who lives in your home under a qualified exchange agreement, is not your relative and is a full-time student in the twelfth or lower grade[...]

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There are the 50%, 30% and 20% rules[...]

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Typically any organization that has received their 501(c)(3) tax exempt status is a qualified charity, yet churches and other religious organizations might be exempt from this requirement.  The term charities is all encompassing (like Kleenex or[...]

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Many people give to charities for a wide range of reasons- help those in need, makes people feel good, because of personal experience, gives people a sense of pride, and yes, for the tax deduction. Here are some examples of charities and their [...]

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