Category Archives: Charitable Contributions

Charitable Contributions to foreign charities

Under the domestic organization requirement, to qualify as a donee organization eligible to receive tax-deductible contributions from an individual, the recipient charitable organization must be created under the laws of the U.S. (or those of any state, the District of Columbia, or any possession of the U.S.), except as otherwise provided in an international tax… Read More »

Use of “conduit” charitable contributions

Generally, donors may earmark their contributions in various ways. However, depending on who has control, IRS may look beyond the immediate recipient to determine if the donee is a qualified charitable donee.   “Conduit” contributions for noncharitable use “Conduit” contributions for noncharitable use. A gift to a qualified charity intended for noncharitable use may in… Read More »

Tips from IRS for Year-End Gifts to Charity

2015 charitable donation tax changes individuals and businesses making year-end gifts to charity. There are several important tax law provisions have taken effect in recent years that taxpayers making charitable contributions must be aware of. Some of the charitable contribution changes taxpayers should keep in mind include: Rules for Charitable Contributions of Clothing and Household Items… Read More »

Charitable Deduction Rules for Disasters

That was an overview of the basic rules about charitable contributions. But sometimes these rules are temporarily superseded by special rules and regulations. For example, Congress can enact special rules for a particular disaster. One type of legislation like that was enacted on January 22 of this year by President Obama who signed into law… Read More »

Charitable Deduction Vocabulary

When making charitable contributions for taxes, it is very useful to know certain vocabulary rules. This page provides an overview of some of the most common terms used for making charitable contributions on a tax return.   Contemporaneous Written Acknowledgment A written statement needed to deduct a charitable contribution of $250 or more. The contemporaneous… Read More »

Treating Foster Care Payments for Taxes

This information applies to taxpayers taking a foster child into your home-for reasons other than profit-and that an agency is going to make monthly payments to you for so long as you provide the foster care. Topics discussed include how you should treat those payments for tax purposes, whether you can deduct your expenses in raising the… Read More »

Appraisal for Charitable Contributions

When you as an individual donate property to charity, you may be required to get an appraisal. This is necessary for the charity and for IRS tax purposes. If you do not get an appraisal when donating property to a charity, the IRS may not let you take a deduction on your tax return for… Read More »