|
Posted by Gary Brown on October 7, 2008, 12:14 am
Please log in for more thread options
Hi,
With Christmas season upcoming we will be making the usual donations.
It is my understanding that the $20 I slip into the Salvation Army bucket is
no longer deductible because it is cash and there is no receipt. Is that
correct?
We also contribute toys. Some are placed in a collection box without a
receipt but we do have purchase receipts. These are deductible?
Thanks,
Gary
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Paul Thomas, CPA on October 7, 2008, 8:43 am
Please log in for more thread options
> With Christmas season upcoming we will be making the usual donations.
> It is my understanding that the $20 I slip into the Salvation Army bucket
> is
> no longer deductible because it is cash and there is no receipt. Is that
> correct?
>
> We also contribute toys. Some are placed in a collection box without a
> receipt but we do have purchase receipts. These are deductible?
You need to get a written receipt, which can be a canceled check to the
charity. Without proof that the toys were given to the charity, it'd be
questioned, but the deduction not necessarily be denied. For non-cash
contributions valuation is the bigger question, and you have a receipt for
that.
--
Paul A. Thomas, CPA
Watkinsville, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Rich Carreiro on October 8, 2008, 5:37 pm
Please log in for more thread options
> You need to get a written receipt, which can be a canceled check to the
Does the receipt for a cash contribution have to be cotemporaneous with
the contribution, or can it be after the fact? I'm in particular thinking
of church cash donations via numbered envelopes which can be tracked
by the church and statements issued after the end of the year.
--
Rich Carreiro rlc-news@rlcarr.com
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Charlie K on October 8, 2008, 8:39 pm
Please log in for more thread options
>
> > You need to get a written receipt, which can be a canceled check to the
>
> Does the receipt for a cash contribution have to be cotemporaneous with
> the contribution, or can it be after the fact? I'm in particular thinking
> of church cash donations via numbered envelopes which can be tracked
> by the church and statements issued after the end of the year.
>
You have to have the receipt in your possession when you file. A
church summary is acceptable and the end of the year.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Paul Thomas, CPA on October 9, 2008, 7:26 am
Please log in for more thread options
> You have to have the receipt in your possession when you file.
You might also need it when you're audited. ;-)
--
Paul A. Thomas, CPA
Watkinsville, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
| Similar Threads | Posted | | The perfect christmas gifts | October 13, 2008, 11:48 am |
| Toy Donations | December 18, 2007, 3:47 pm |
| donations, what are they worth? | May 24, 2008, 3:37 pm |
| When are donations not taxable to the receiving party? | February 7, 2008, 5:38 pm |
| Voluntary page charges as deductible donations? | April 10, 2007, 10:25 am |
| Are campaign donations deductible business expense? | April 25, 2008, 3:52 pm |
| New Law Encourages Cash Donations for Midwest Disaster Relief | November 25, 2008, 12:34 pm |
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap