Wednesday's tax tip Vol. 7 - Charitable Donations

A number of tax publications seem to be of the belief that that IRS is going to be checking on large non cash donations of clothing, appliances and furniture to thrift operations. As a reminder, your donations of such items need to be in good to better condition and the charity is supposed to acknowledge such.

A good practice is to document a list of a non cash donations so you can be specific as to the donations of such goods. My guess is that the more detail you can provide the more apt your donation will be considered acceptable.

I have recently put together a schedule to aid in your records keeping of such charitable items. On the back of the form is a Goodwill guideline of the value of clothing items, appliances and furniture. If you would like for me to get you one email me at gtvcpa@yahoo.com.

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