
Did you contribute to charities this year? Find out how to file contribution tax deductions in this free video clip about tax deductible items.
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"Hi, I'm Tom Choisnet, enrolled agent. In this segment I'm going to tell you what constitutes a charitable organization, or I should say, those areas where you can deduct contributions. I'm going to refer to this, I'm gong to read it a little bit, because the list is long, and quite interesting. Obviously you can deduct to churches, but you can also deduct money paid to educational institutions, hospitals and research facilities, college and university endowment funds, state, federal, or local governments. You can deduct contributions there too. Organizations that are supported by governments. I racked my brain, I couldn't think of what might come under that category. Foundations and special war veterans organizations, fraternal organizations. Here's another one people often miss, cemetery companies. If they are properly organized, you can deduct contributions to those folks. And, of course, international sports organizations, such as the PanAm Games, and, of course, to the Olympics. I hope I've enlightened you a little bit on some areas that maybe you wouldn't have thought of when compiling your contributions. Thank you for watching this clip. I'm Tom Choisnet."
Expert Village: Tom Choisnet
Video Series: Personal Finance
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