Charitable Donations

/Tag:Charitable Donations

Can I Deduct Donations to a 501(c)(7)? What About a 501(c)(12)?

By | August 1st, 2016|Categories: Small Business Tax and Accounting|Tags: , , , , |

When a person gives money to a tax-exempt organization, the donation may or may not be tax deductible. Here are the basic rules: If the organization is a 501(c)(3), the donation is deductible as a charitable contribution. For other types of 501(c) organizations, the donation is generally not tax deductible, but there are exceptions. Those exceptions mainly apply to businesses.

Not All Donations to Charity Are Deductible

By | February 1st, 2016|Categories: Potpourri of Tax Topics|Tags: , , , , |

A common misconception people have about charitable contributions is that anything given to a not-for-profit counts as a deduction.