Monthly Archives: May 2011

CHARITY

CHARITY

Benevolent goodwill toward or love of humanity, generosity and helpfulness especially toward the needy or suffering.

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Tax Deduction for Charity Donations

Tax Deduction

Contributions to churches and non-profits are tax-deductible Donations to charity are tax deductible expenses. These donations can reduce your taxable income and lower your tax bill. Not everyone will be able to deduct their charitable contributions, however. You will need to itemize your tax deductions in order to claim any charity. “You may deduct...

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Not Tax Deductible

Not taxable

Contributions are not tax deductible if given to any of the following: * Political parties, political campaigns, or political action committees. * Contributions given to individual people. * Fees or dues paid to professional associations. * Contributions to labor unions, chambers of commerce, or business associations. * Contributions to for-profit schools and hospitals. *...

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