November 25, 2015
IRS Releases Tax Tips for Deducting Gifts to Charity
The holiday season is well underway and if you plan on donating money or property to a charity this year, you are going to want to know these six tips before you give. The IRS recommends that you should keep these in mind:
- Give to qualified charities.
- Keep a record of all cash gifts.
- Household goods must be in good condition.
- Get an acknowledgement form from a charity for each deductible donation of $250 or more.
- Deduct contributions in the year you make them.
- Special rules apply if you give a car, boat or airplane to charity.
Learn more about these IRS tips here.
Categories: Tax, Tax-Exempt Organizations
Contact Author(s)
Share
Categories
- Property Tax
- Corporate Income Tax
- Did you Know?
- Use Tax
- Employee Benefits
- Compliance
- Nonprofit
- Tax Disputes
- Labor Relations
- Tax
- Collections
- Employment Tax & Withholding
- Venture Capital/Funding
- Financing
- Crowdfunding
- Alternative Minimum Tax
- News
- Employment
- Tax-Exempt Organizations
- U.S. Supreme Court
- Personal Property Tax
- Sales Tax
- Income Tax
- Estate Planning
- Audits
- News & Events
- Alerts and Updates
- Insurance