"Do what you can, with what you have, where you are." Teddy Roosevelt
Let us know if you have an unusual situation and we will advise you accordingly. The rules can get complex.
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Cash (or check or cc) donations up to $300 (Single) $600 (Married) may be deducted as an adjustment to your income on your 2021 federal tax return.
Charitable Contributions
Obtain and keep receipts! All qualified charitable organizations are in the habit of issuing receipts, so this shouldn't be a big deal. No receipt=no deduction.
Consider naming your favorite charity in your will or as a beneficiary on your IRA or other account.
If you are over 70 1/2, consider making a direct contribution from your Traditional IRA to your favorite charity.
Charitable contributions kick in at the federal level if you itemize your deductions (long form or Schedule A). (Only 5% of individuals itemize). Minnesota allows a subtraction if your charitable amount is over $500.
Dues or memberships may only be partially tax deductible - ask the organization for a receipt with a breakdown.
Gifts to people in need are not tax deductible. (Benefits, gifts to pan handlers etc).
Time spent volunteering is not deductible. You may track mileage in connection with volunteer work and take a per mile deduction (see checklists).
Political donations are not tax deductible.
Donations of household goods and clothing in excess of $500 require a detailed report (Form 8283) to IRS.
Consider gifting appreciated stock or property to your favorite charity. Your deduction may be based upon the fair market value of the property.
Todd's Tax Service, LLC