Donation Deductions

Donation Deductions

A great article from Watson CPA Group landed in my inbox this morning and I thought I would share it with you.

The IRS is quick to disqualify your non-cash charitable contributions if you do not have adequate records to support your donation. Here are five quick tips to ensure this does not happen to you.

  1. Get a receipt. Whenever you donate items of value please get a receipt from the charitable organization. It should include the name of the organization, the date of the gift, a general description of the item, and that you received nothing in return for your gift.

Read More