Posts Tagged: non cash donations

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Is your Favorite Nonprofit Up-to-Date for the Federal Income Tax Charitable Deduction?

Is your favorite nonprofit up-to-date on requirements for the federal income tax charitable deduction? You want to be able to ensure your donation maximize benefits for both you as a donor and the charity. Consider the following considerations and requirements. Save $$$ and help your favorite charities even more I always say, it’s better to… Read more »

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Donations to Foreign Charities not Deductible for Income Tax

If a charitable contribution is made to a foreign organization, the donor generally cannot deduct the contribution for income tax purposes. Exceptions may apply in very limited situations; specifically, the U.S. has tax treaties with Canada, Israel, and Mexico. Generally, though, if the donee is a foreign charitable organization an income tax deduction is unavailable…. Read more »

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Donate Your House & Keep the Keys: Retained Life Estate

Your most valuable asset? Most would say, home. Could your home benefit your favorite charity? Yes, and with a retained life estate, you can give away your house, keep the keys, and get a current tax deduction. Under a retained life estate, the donor (you) irrevocably deeds a personal residence or farm to charity, but… Read more »