taxrates logo   

Home

How to Save Money on Taxes by Donating to Charities

Filing Your Taxes

1.

Gather together your records, listing your individual donations.

2.

Report your charitable contributions by itemizing your deductions on Schedule A of IRS Form 1040.

3.

Deduct your contributions only in the year you actually made them.

4.

Fill out the relevant parts of Form 8283 if you made non-cash contributions totaling over $500.

Making Donations

1.

Select a tax-exempt organization qualified to receive tax-deductible donations. See the Related eHow "How to Determine if a Charity Is Qualified to Receive Tax-Deductible Donations" for guidelines.

2.

Learn the Internal Revenue Service's definition of a charitable contribution: "a donation or gift to a qualified organization that is both voluntary and made without getting, or expecting to get, anything of equal value."

3.

Make charitable donations to the organizations you select throughout the year.

4.

Keep records of your donations. For donations of less than $250, a canceled check is sufficient for IRS purposes. For contributions larger than $250, you must get a written acknowledgment from the organization that includes the amount of cash contributed, a description of the property (for a non-cash contribution) and notice of whether you received any goods or services in exchange for the donation. See "How to Keep Proper Records for Donations" in the Related eHows for more details.

Tips and Warnings

  • The benefits of donating to charity will vary widely, depending on your personal financial situation. Consult your tax adviser.
  • Take care to follow all IRS guidelines for documenting and reporting donations. See "How to Keep Proper Records of Your Donations" for more information.


  • Visitors Also Saw
  • How to Claim a Child Tax Credit in BC, Canada
  • Tax Questions for Workers Comp Settlements
  • How to Complete a 1040X With Form 5405
  • How to Convert Rental Real Estate to Residential and the Tax Implications
  • How to eFile Federal Taxes FREE
  • How to File with the IRS for Free
  • How do I Determine the Fair Market Value of Goods?
  • How to Fill Out Tax Forms for a Donated Car
  • Tax Write Offs for Rental Property
  • What Things Are Tax Deductible?



  • I. American Stores Tax Rates Search


    II. American Stores Shoping Guide