Boys & Girls Clubs of Central Orange Coast’s Post

🌞 Summer is the perfect time to tackle those chore lists! If you're cleaning out the garage or closets, consider donating items to a local charity. Not only is this a generous act, but it could also lead to tax savings if you itemize deductions on your tax return. 🧹🧺 Here’s what you need to know for tax benefits: 📦 Noncash donations under $250: Make sure to get a receipt that includes your name, address, date of donation, and a detailed description of the items. 💖Donations between $250 and $500: Obtain a "contemporaneous written acknowledgement" from the charity. Remember, giving back is always a win-win! #Charity #TaxSavings #SummerCleaning #BusinessAdvisory

🌞 Summer is the perfect time to tackle those chore lists! If you're cleaning out the garage or closets, consider donating items to a local charity. Not only is this a generous act, but it could also lead to tax savings if you itemize deductions on your tax return. 🧹🧺 Here’s what you need to know for tax benefits: 📦 Noncash donations under $250: Make sure to get a receipt that includes your name, address, date of donation, and a detailed description of the items. 💖Donations between $250 and $500: Obtain a "contemporaneous written acknowledgement" from the charity. Remember, giving back is always a win-win! #Charity #TaxSavings #SummerCleaning #BusinessAdvisory

So many charities and churches fighting for donations. People are struggling in this economy so donations are way down. StarVox Capital knows each one of these organizations have relationships with business owners. StarVox Capital reaches out to these businesses on behalf of an organization, then they eliminate their processing fees for free. Of the money we make on that account up to 50% will be given back to that organization and the referral partner as residual income. We increase the bottom line for a business for free and then we give up our personal income to an organization picked by the business, who says NO to this opportunity? #CharityEvent #Fundraising #CommunityEngagement #Networking #SocialImpact #SupportCause #Philanthropy #Nonprofit #CorporateResponsibility #ProfessionalNetworking #BusinessForGood #GiveBack #NetworkingEvent #SupportingCharities

Thinking about giving to a worthy cause or helping a loved one financially? It can help to know how your generosity can affect your taxes! Discover the key differences between charitable donations and personal gifts, how to confirm a charity’s tax-deductible status, and why keeping accurate receipts is essential. Learn more here: https://lnkd.in/e8cdc_Ry #donations #charity #taxdeductions #taxfreegifts #tax #nonprofit

If you donate goods, money, or services to charity, you’ll need to utilize the itemize deduction not the standard to have a tax benefit of giving. Plus, you have to have a grasp on the fair market value of tangible goods when it comes tax time. If you regularly donate tangible items to charities, writing off your donations can affect your tax return but only if documented properly. It is worth the effort to track your donated goods if you give valuable items, such as artwork, furniture, or serve in a role on a volunteer board. Read more in our newest blog: https://lnkd.in/eFv_q5zU #organizedinstincts #dailymoneymanagers #donations #taxes #charities #charitabledonations #volunteer #donatetime #donategoods

If you donate goods, money, or services to charity, you’ll need to utilize the itemize deduction not the standard to have a tax benefit of giving. Plus, you have to have a grasp on the fair market value of tangible goods when it comes tax time. If you regularly donate tangible items to charities, writing off your donations can affect your tax return but only if documented properly. It is worth the effort to track your donated goods if you give valuable items, such as artwork, furniture, or serve in a role on a volunteer board. Read more in our newest blog: https://lnkd.in/e4GVv5mg #organizedinstincts #dailymoneymanagers #donations #taxes #charities #charitabledonations #volunteer #donatetime #donategoods

Did you know in-kind donations need acknowledgement letters too? It helps your donors with taxes and shows your appreciation! Make sure your letter includes these key details: 1️⃣ Your Organization's Name: Let them know who they generously supported! 2️⃣ Tax-Exempt Status: Confirm their donation is tax-deductible (if applicable). 3️⃣ Donation Date: Keep records clear. 4️⃣ Description of Donation: Detail what they donated (they determine the value for tax purposes). 5️⃣ Disclosure for "Quid Pro Quo" Gifts: If they received something in return (worth over $75), mention it. #DonorAppreciation #InKindDonations #Nonrofit #Fundraising

If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That’s not only generous, it might lead to tax savings (if you itemize deductions on your tax return). You’ll need to secure proper documentation from the qualified charities you donate to. Noncash donations of less than $250 must be supported by a receipt, showing your name, address, date of donation and detailed descriptions of the items. For donations valued at $250 to $500 you must also obtain a “contemporaneous written acknowledgement” from the charity. Click here for more details, including documentation needed for higher value donations: https://bit.ly/3yvZKD4 #CharitableDonations #TaxSavings #IRS #TaxDeductions #SummerCleaning #TaxTips

If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That’s not only generous, it might lead to tax savings (if you itemize deductions on your tax return). You’ll need to secure proper documentation from the qualified charities you donate to. Noncash donations of less than $250 must be supported by a receipt, showing your name, address, date of donation and detailed descriptions of the items. For donations valued at $250 to $500 you must also obtain a “contemporaneous written acknowledgement” from the charity. Click here for more details, including documentation needed for higher value donations: https://bit.ly/3yvZKD4 #CharitableDonations #TaxSavings #IRS #TaxDeductions #SummerCleaning #TaxTips

If your summer chore list includes cleaning out the garage and closets, you might have items to donate to a local charity. That’s not only generous, it might lead to tax savings (if you itemize deductions on your tax return). You’ll need to secure proper documentation from the qualified charities you donate to. Noncash donations of less than $250 must be supported by a receipt, showing your name, address, date of donation and detailed descriptions of the items. For donations valued at $250 to $500 you must also obtain a “contemporaneous written acknowledgement” from the charity. Click here for more details, including documentation needed for higher value donations: https://bit.ly/3yvZKD4 #CharitableDonations #TaxSavings #IRS #TaxDeductions #SummerCleaning #TaxTips