Maximizing Your Charitable Contributions

Here are some helpful points to consider when making charitable contributions to ensure you get the most for your contribution. Verify nonprofit status For charitable contributions to be deductible they must be made to qualified organizations. The organization must be recognized as a

How to: Non-Profit Fundraising on the Web

The Internet has been a boon for nonprofit organizations. Charities hoping to raise awareness — and money — can now reach a worldwide audience with minimal expense. Just keep in mind that the same rules that apply to fundraising via traditional media apply to Internet fundraising. Ded

Good Intentions, Bad Tax Result

A recent Tax Court case* illustrates what can go wrong when taxpayers don’t have all the documentation required to support their deductions for charitable contributions. The case involves a couple who had made a series of cash donations totaling approximately $25,000 to a tax-exempt o

Charities and Politics — Not a Good Mix

When it comes to politics, charitable and educational organizations should proceed with caution. If an organization violates the IRS’s rules on participating in political campaigns, it could lose its tax-exempt status. Political Campaign Activity Nonprofit organizations are prohibited

Substantiating Charitable Donations for Tax Purposes

To claim a deduction for a charitable donation, you must have certain docu­men­tation. The current tax law requirements are summarized in the table below. Additional Tips Here are some other points to keep in mind. Multiple contributions. If you make multiple contributions of less tha