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Question
Are doantions to charity 100% deduactible? I m thinking about donating money to a private school, In Henderson, NV
Submitted: 69 days and 22 hours ago.
Category: Tax
Value: $40
Status: CLOSED
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Country/State/Province of question: nevada
Accepted Answer
Hello XXXXXXX,
Donations to charity are tax deductible expenses. These donations can reduce your taxable income and lower your tax bill. Not everyone will be able to deduct their charitable contributions, however. You will need to itemize your tax deductions in order to claim any charity.
You must contribute to a qualified tax-exempt organization. Charities will let you know if they have received their 501(c)(3) tax-exempt status. Some organizations are not required to obtain 501(c)(3) status from the IRS. These include churches and other religious organizations.
Contributions are not tax deductible if given to any of the following:
•Political parties, political campaigns, or political action committees.
•Contributions given to individual people.
•Fees or dues paid to professional associations.
•Contributions to labor unions, chambers of commerce, or business associations.
•Contributions to for-profit schools and hospitals.
•Contributions to foreign governments.
•Fines or penalties paid to local or state governments.
•The value of your time for services rendered to a non-profit.
Be sure and check with the private school regarding their IRS status prior to making your donation.
I sincerely hope this information is helpful,
Expert:
Robin D
Pos. Feedback:
100.0 %
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Answered:
9/14/2009
Senior Tax Advisor 4
15years with H & R Block. Divisional leader, Instructor
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