5 Easy Tips to Simplify Year End Giving
Are you planning on making charitable donations before the end of the year? The IRS reminds us that you must itemize deductions on your tax return to claim a deduction for these gifts. In addition, the following five tips can help make those year-end charitable gifts count.
Tip #1 – Give to a Qualified Charity. Only gifts to a “qualified charity” are deductible on your income tax return. The IRS offers a handy website, the Select Check tool, to determine whether your favorite organizations are qualified. You can also deduct donations made to churches, synagogues, temples, mosques, and government agencies even if they are not listed in the Select Check database.