Deductible Charity Requires Recordkeeping

Posted on Monday, May 06, 2013

If spring cleaning leaves you with items that you want to donate to charity, remember that donations of used clothing and household items must generally meet certain requirements to be tax-deductible. First, such items must be in "good used condition or better." Second, a receipt from the charity is required. If the property is valued under $250 and a receipt is not available, such as at unattended drop-off locations, reliable written records are still required.

Posted in Tax And Accounting Topics For Business

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