Charitable Contributions Property, as well as money, can be donated to a charity. You can generally take a deduction for the fair market value of the property; however, for certain property, the deduction is limited to your cost basis. While you can also donate your services to charity, you may not deduct the value of […]
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If you give money or goods to a charity in 2016, you may be able to claim a deduction on your federal tax return. Here are six important facts you should know about charitable donations. 1. Qualified Charities. You must donate to a qualified charity. Gifts to individuals, political organizations or candidates are not deductible.
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Spring is here, and with it comes the idea of new beginnings. This is the time of year when temperatures warm up and we look forward to our summer vacations. It is also the time when we do our spring-cleaning; getting rid of some of the stuff we no longer want or need. This year
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