Chartiable Donations – Admirable Gifts
Charitable donations are admirable gifts, and ones that can be made in the forms of cash, check, credit card or payroll deduction. When it comes to the Internal Revenue Service (IRS) they require proof that you made donations, and the responsibility of receiving and documenting that proof falls onto you – the taxpayer an donor. When making charitable donations it is important to keep the following things in mind:
- Make sure that the organizations is a qualified charity – you can use the IRS website to check that the organization is eligible to receive deductible contributions
- Making a year-end gift on your credit card, the deduction you are able to take is in the year you press “SEND”, not when you pay the bill
- When you are donating property such as clothes or household items the IRS website provides details of those rules. It is important to keep in mind that you must have a receipt from the charity as proof
