Tax Tip: Charitable Contributions
When preparing to file your 2000 federal tax return, don't forget your contributions to charitable organizations. Your donations can add up to a nice tax deduction if you itemize on IRS Form 1040, Schedule A.
Here are a few tips to help make sure your contributions pay off on your tax return.
If you have questions about the deductibility of charitable contributions, call the IRS at 1-800-829-1040 or look on the IRS Web site at Publication 526, "Charitable Contributions," and Publication 561, "Determining the Value of Donated Property." You may call the IRS at 1-800-829-3676 and request a copy of these publications.
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This daily Tax Tip has been provided by the IRS
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Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.