{"id":57743,"date":"2019-02-13t12:00:57","date_gmt":"2019-02-13t17:00:57","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=57743"},"modified":"2019-02-18t17:44:40","modified_gmt":"2019-02-18t22:44:40","slug":"the-latest-rules-on-charitable-donations","status":"publish","type":"post","link":"\/\/www.g005e.com\/2019\/02\/13\/the-latest-rules-on-charitable-donations\/","title":{"rendered":"the latest rules on charitable donations"},"content":{"rendered":"

\"\"<\/a>5 guidelines.<\/strong><\/p>\n

by barry j. friedman, cpa<\/i>
\n
industrynewsletters<\/i><\/a><\/p>\n

charitable contributions are deductible, says the irs, only if you itemize deductions.<\/p>\n

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but how do your clients know that the charity they are donating to is qualified?
\n
\nand further, they are deductible only if you make contributions to qualified charitable organizations. the tax agency reminds us that contributions to individuals are never deductible.<\/p>\n

the irs notes that you can determine whether the organization qualifies as a charity for income tax deduction\u00a0purposes if you refer to the agency’s\u00a0tax exempt organization search tool<\/a>.<\/p>\n

what if you receive a benefit from the contribution \u2013 such as a public tv station offering a dvd of the program you were just watching \u2013 or other goods or services? what about obtaining admission to a charity ball or banquet, or receiving tickets to a theatrical performance or sporting event for your donation? the irs says you only can deduct the amount that exceeds the fair market value of the benefit received.<\/p>\n

and then there’s the sticky problem of contributing cash, checks or any other monetary gift \u2013 how should you handle this? the tax agency recommends that you maintain a record of the contribution.<\/p>\n