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Claiming Your Charitable Donations

Claiming Your Charitable Donations

Helping out others is a great and noble cause to work on. You recognize that others just don’t have all the benefits that you do and you want to help them out. Or maybe you just want to get rid of some of your items that are taking space and you know that it is the right thing to give them to those who need it most. Either way, you can be rewarded for your charitable donations when it comes to tax time. The IRS recognizes that these kinds of giving activities are important and they will allow people to get the help that they need. You can deduct some of these from your income and save when it comes to tax season.

If you are interested in claiming some of these charitable donations during tax time, make sure to contact the professionals at Rincon Controller and Tax Services. We will be able to look at your deductions, as long as you have the proper receipts, and make sure that you are getting the best break on your tax bill possible this tax season.


What are Charitable  Donations?


Charitable donations are anything that you donate, whether it is money, clothing, or other items, that you give to a nonprofit organization. Giving away some clothes to your sister will not be considered a charitable donation. Make sure to check with your organization to find out if they qualify under the codes for being this kind of organization. If the money considers itself nonprofit and is able to take these kinds of donations, they are usually going to be pretty safe under this process.


If you are uncertain about their filing status, make sure to ask for a receipt. Nonprofits are used to having this information on hand and can give you the proper receipts for the items you are donating. This could save you a lot of time and having the official paper from the company will ensure that you are protected if there is an audit from the IRS.


Once you get a receipt for your donations, make sure to hold onto the information. This will make it easier to keep track of when it comes to tax time. The professionals at Rincon Controller and Tax Services will be able to take a look at the amounts listed on the receipt as well as the organization and get everything filed on the tax return for you.


Keep in mind, you are not allowed to claim things that you did not donate or that you did not keep the receipt for. You will end up in a lot of trouble with the IRS if you are not able to prove that you did the donation in the first place when they come to audit and you may have to pay back all those taxes later on. This is why keeping good records is so important to help you see the tax break that you are looking for. If you are uncertain about whether you should claim something as a charitable donation on your tax return, make sure to discuss your options with Rincon Controller and Tax Services.


How to Claim these  Donations

 the right receipts, it is easy to get these donations onto your tax return. You will need to bring in your receipts to the professionals at Rincon Controller and Tax Services. They will be able to take a look at your donation and determine if it qualifies under the type of tax return that you are going for. You can do this on your own, but if you really want to see some great results when it comes to saving on your tax bill, make sure that you have the right kind of paperwork and bring it in to our professionals as soon as possible. You can get this filled out right on the tax return and it doesn’t take that long.


What You Need


The process for claiming these donations is easy as long as you keep accurate records and are able to keep everything in order throughout the process. Many people don’t keep their receipts and find that their tax professionals will not let them claim these deductions. If you want to do this, you must have the right paperwork in place and keep it on hand in cause of an audit from the IRS.


To claim these deductions, you need to have some paper or receipt that explains where you donated your money or your items, the date that you donated, and how much you gave to the cause. If you have a check, just make sure to keep the negative in order to avoid issues. If you donated items or some other supplies, just make sure to ask the organization that you donated to for a receipt that you can keep on file.


Working on your taxes can be a challenge. You want to make sure that you are putting everything in properly. When you are ready to get through your taxes with as little pain as possible, make sure to contact Elizabeth James of Rincon Controller and Tax Services in Carpinteria, CA to get it done. We have the experience that is needed to take on your project for taxes and to get it done right the first time. Contact us today to get started.

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