How to Donate Money to Charity
Donating money or property is a good way to help a needy organization and get a tax write-off as well.
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Things You'll Need
- IRS Forms
- Calculators
- Accounting Services
- Bank Account
- Tax Preparation Software
Instructions
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1
Determine how much you want to donate annually. Meet with an accountant or tax preparer to identify an appropriate amount for your personal financial situation.
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Decide whether you want to donate to just one charity or to multiple charities.
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Contact the charities and ask them to provide you with information about the donation process.
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Determine, with your accountant or tax preparer, the optimal time to donate the money or property.
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Give your donation.
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Ask for a receipt that details your donation.
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Keep records of the value of any property you donate.
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Tips & Warnings
Many employers sponsor an annual charitable drive, usually in conjunction with the United Way. This is an opportunity to give to several needy causes at one time.
Check to see if your employer will match any donations you make, including those to school PTAs.
Verify the validity of the charity. Ask for documentation of where funds will go and proof of the organization's nonprofit status.
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Comments
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parismercedes
Mar 04, 2011
i'd love to share -
Nov 22, 2005
Consider making it a personal policy not to give money over the phone or when someone comes to your door. Though many legitimate charities solicit donations this way, many scam artists also use these tactics to try and get your money. If you're interested in giving to one of these organizations, ask for some literature. Then you can check if the charity is legit, research their operations, and decide if you want to contribute at your own pace.
