07/14/2026
Tax Tip Tuesday:
Donations (charitable contributions deduction)
For non-cash donations over $250, you must obtain a written acknowledgement from the charity at the time of donation. Not after.
For donations over $500, you must also maintain a detailed record showing what exactly you donated, when you acquired the items, and their cost or basis. Generic receipts that say "miscellaneous household items" are not enough.
Always before donating, prepare a detailed list of items, description, estimated values and take photos. All of this will help in an audit. Always be prepared.