Tag Archive for Donate

Charity Begins At Home – Part 2

What factors determine if your donation is tax deductible or not: For a charitable donation to be tax deductible, one has to keep in mind first and foremost that one has to itemize deductions on the tax return via Schedule A and,

• That the donation is to a qualified organization. A qualified organization is an organization to whom one can make tax deductible donations. Usually, this is an organization registered under Section 501(c)(3) or 501(c)(19).

• These organizations include non-profit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty to animals or children. (For an exhaustive list refer Pub 526). Read More

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Charity Begins At Home – Part 1

I had a strange experience on my door step with a man selling magazine subscriptions for a Charitable Organization the other day. To confirm his legitimacy he even showed me a check a neighbor had written for $50 and advised my donation to his organization would be tax deductible!

Most of us, through out the year are approached by various charities either personally or on the telephone or through letters. The callers may want you to pledge an amount that instant.

Financial stress has hit hard all round, both charities & donors are strapped for funds. My policy when approached thus in most cases is to ask for more information about the Read More

Written by | Posted in Tax Deductions • Tax Tips