Donating to a charity? Do this

Posted on Nov 17, 2017

Image courtesy of Sira Anamwong at freedigitalphotos.net

If you plan on donating to a charity, take steps to ensure it’s tax-deductible. First, check to see if the organization you’d like to donate to is qualified and registered with the IRS. You can do this by visiting the IRS website, or calling (877) 829-5500.

You’ll also need to collect receipts to file with your tax return, and get an independent appraisal for noncash donations greater than $5,000. Remember, contributions are deductible in the year they are made. Donations must be made by Dec. 31 to be deductible in 2017.

Gilliland & Associates, PC is a full-service CPA firm specializing in tax planning for individuals and businesses in the Northern Virginia area. We are based in Falls Church, VA and also service clients in McLean and Tysons Corner, VA. Gilliland & Associates is known for our superior knowledge and aggressive interpretation and application of tax laws. We help you keep more of your earnings by finding you the lowest possible tax on your business or personal tax return. You can connect with us on Google+, LinkedIn, Facebook, and Twitter.

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