1. How to Make the Most of
Your Charitable Giving.

2. Itemizing Required
You can give thousands of dollars, but if you claim the
standard deduction amount on your tax return, your
charitable gifts will do you no tax good. You must
itemize expenses on Schedule A to deduct charitable
donations.
The good thing about donations is that, in most
cases, there is no limit on how much you can deduct.

3. To donate money
If you want to donate money, never pay with
cash, For tax purpose and safety reasons.
To donate money you
can choose check or use credit or debit card.

4. To donate property
If you are donating a property like
vehicle, building to a charity. consider tax
deduction rules are changed in response to
past a abuse of the system. Now, if you
donate real property with claimed value of
over $500, your deduction depends on what
the charity does with it.

5. To donate goods
The next thing to donate to a charity is goods
including cloths, furniture, other household items.
Before packing
them, determine their fair market value for
receive the appropriate tax reduction.
The important thing
is keep the details of your donation for tax
purpose.

6. Timing Is Everything
Donations must be made by the end of the tax year
for which you want to claim the deduction. If you put
a check dated Dec. 31 in the mail by that day, you're
OK. So are donations charged by year's end to your
credit card, even if you don't pay the card's bill until
the next year.

7. PRESENTED BY
Connect India