Taxes
Review itemizing, eligible recipients, donation records, and appreciated assets before assuming a year-end gift will reduce your taxes.
1
A gift does not automatically produce a federal income tax deduction.
2
Check the recipient, tax-year rules, and documentation before giving.
3
Giving appreciated assets requires planning before selling or transferring.
4
Keep evidence of completion rather than only a promised donation.
The value of donated services generally is not deductible. Certain unreimbursed expenses may qualify under specific rules, so keep separate records and review current IRS guidance.
A personal gift to an individual generally is not a deductible charitable contribution. Check the legal recipient and its eligibility rather than relying on the fundraiser’s purpose.
Read the full guide