Tips on Deducting Contributions
GIVING by Bill Clinton
GIVING: How Each of Us Can Change the World takes an inspiring look at how individual endeavors can save lives and solve problems. Through the stories of amazing people and dedicated organizations, President Clinton offers compelling examples of both citizen and corporate activism at work in the world today.
Are you working to solve problems and save lives – down the street or around the world? Do you know someone who is giving their time and skills to a great cause? Please share your stories of giving - and in the process, inspire change and encourage others to give.
Read others' Stories of Giving to learn how all kinds of giving can make a positive difference.
Give the Gift of Charity
To help celebrate the true spirit of the holiday season, JustGive offers these charitable gift ideas.
Charity Gift Certificates
Recipients can redeem these in support of their favorite charity.
Charity Gift Baskets
Our Charity Gift Baskets feature four charities with a cause-related theme.
Charity Wish Lists
Donors can access your list of favorite charities online and make donations in your honor.
Honor a Loved One
Make a donation as a gift to a special person in your life.
Remember a Loved One
Make a memorial donation and a personal message can be sent to the family.
http://www.justgive.org/html/ways/holidaygifts.html
Giving Wisely
JustGive is powered by GuideStar, a database of over 1 million local and national nonprofit organizations. GuideStar has created these steps to giving wisely to help donors give with their heads as well as their hearts.
Clarifying your values.
Identifying your preferences. Which cause area is most important?
Search the GuideStar database to find charities that meet your criteria.
Finding each charity's mission in the GuideStar search results.
Eliminate organizations that don't meet your criteria.
Why you can trust GuideStar-listed charities.
Get the cold, hard facts on reputable organizations.
Compare and contrast charities' work and operating costs.
Avoid charities that won't share information or who pressure you.
Trust your instincts.
Search Guidestar for your favorite charity
Tips on Deducting Contributions
One of the benefits of charitable giving is the ability to take a tax-deduction for your donations. To help donors understand which of their donations are tax-deductible and which are not, the BBB Wise Giving Alliance offers these tips on deducting contributions.
Contributions are deductible for the year in which they are actually paid or delivered. Pledges are not deductible until the year in which they are paid.
The value of volunteer time or services to a charitable organization is not deductible. However, out-of-pocket expenses directly related to voluntary service are usually deductible.
Contributions for which the donor receives a gift or other kinds of benefits are deductible only to the extent that the donation exceeds the value of any benefit received by the donor.
Direct contributions to needy individuals are not deductible. Contributions must be made to qualified organizations in order to be tax deductible.
Contributions made directly to foreign organizations are not deductible, except in the case of some Canadian organizations as specified in an agreement with that country.
The "fair market value" of goods donated to a thrift store is deductible as long as the store is operated by a charity. To determine fair market value, visit a thrift store and check the "going rate" for comparable items.
Donated property may generally be deducted at the fair market value of the property at the time of the contribution.
Seek professional advice or to consult the IRS when in doubt about the deductibility of contributions.
Make a tax-deductible donation using the JustGive Guide
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