Everyday Tax Tips

Charitable Donations

by | Feb 24, 2016

Give to receive! Charitable donations, whether in cash or in kind, to a qualified organization can net you a tax deduction equal to the amount of cash or the value of the items donated. A quick way to track these donations are to ask for a receipt from the organization and jot down on the receipt details of the donation. Stick the receipt in with other tax documents for your appointment with your tax professional. Don’t have a tax professional? Ask Ms. Tax!