Wednesday, October 30, 2013

Be detail-oriented | car donate to nirlaba organization or community

This paper trail may seem cumbersome, but think about it: This may be one of the biggest charitable donations you ever make. By taking the time to dot the i’s, you can make sure that the charity gets the most benefit and you get the biggest possible deduction.

Not quite, but close. Charitable groups often sponsor events in order to raise money. You can deduct the cost of tickets to these events, but the amount shown on the ticket you buy isn't necessarily the amount you can deduct. Suppose you pay $50 for a special film screening designed to benefit a cause you support. If you can see that movie somewhere else for $8, you've made a contribution of $42. If the 'regular price' is not indicated on the ticket or anywhere else, just note the normal price for similar events or activities in your area and reduce your donation by that amount.