Records to keep for Charitable Contributions
- February 23, 2012
- David Greene
- Comments Off on Records to keep for Charitable Contributions
First, I’m proud to announce that we now offer tax return preparation services for both delinquent and current taxes. Call for an appointment.
Any contribution, cash or tangible items, of $250.00 or more must be substantiated by a contemporaneous
written receipt by the donee organization. This receipt must state whether or not the donee provided any goods or services in consideration of the donation. If so, the donation is discounted by the value of the goods or services for tax deduction purposes. If one donates goods or services, the domee organization must provide you a written statement of the goods or services donated along with their estimated good faith value. This must be done no matter what size the donation is.