ALL STAR TAX SOLUTIONS - Quality Tax Preparation and Accounting Services Since 1983.
RSS Follow Become a Fan

Delivered by FeedBurner

Recent Posts

IRA Filing Tips
Tax Filing Mistakes and Helpful Tax Information
Stressing Over Your Tax Preparation?
Are Your Charitable Contributions Tax Deductible?
Which Form Should I File? 1040EZ , 1040A or 1040.


2013 Filing Mistakes and Helpful Tax Information
2013 Tax Return
2014 Tax Return
CA Taxpayers Choose To Raise Taxes
Charitable Deductions Deductible
IRA Filing Tips
IRS In Crisis In Carrying Out Their Mission
Same Sex Married Couples
powered by

My Blog

Are Your Charitable Contributions Tax Deductible?

Tax Season IS HERE and it is time to gather up all those tax documents for your upcoming tax appointment! Did you make any charitable donations this year? How do you know what is deductible?
Five Helpful Tips on Charitable Contributions
  1. Contributions must be made to qualified organizations to be deductible. You cannot deduct contributions made to specific individuals, political organizations and candidates.
  2. You cannot deduct the value of your time or services. Nor can you deduct the cost of raffles, bingo or other games of chance. However, you CAN deduct costs directly related to the use of your car in giving services to a charitable organization. (Standard Mileage Rate 14 cents)
  3. If your contributions entitle you to merchandise, goods or services, including admission to a charity ball, banquet, theatrical performance or sporting event, you can deduct only the amount that exceeds the fair market value of the benefit received.
  4. VERY IMPORTANT: Regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a bank record, payroll deduction records or a written communication from the organization containing the name of the organization, the date of the contribution and amount of the contribution.
  5. For donations by text message, a telephone bill will meet the record-keeping requirement if it shows the name of the organization receiving your donation, the date of the contribution, and the amount given.
For additional information on this subject, please visit the following:

0 Comments to Are Your Charitable Contributions Tax Deductible?:

Comments RSS

Add a Comment

Your Name:
Email Address: (Required)
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment