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How to Take Tax Deductions for Charitable Giving

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Part of the video series: Tax Deduction Tips & Advice

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Summary: Giving money to certain charities that are registered can provide the giver with documentation to file along with their tax return. Deduct charitable contributions on tax returns that do not exceed 20% of a person's gross annual income safely and legally with tips from an experienced tax professional in this free video on tax deductions.

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By Kristen Brand
eHow Presenter

Kristen Brand has over eight years of accounting experience. She is a CPA in Florida and is a practitioner in Florida's Certified Audit Program for sales and use tax. This designation...read more

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"Are people always asking you for money? I know sometimes on my way to work I get stopped and people ask me for money. In fact, the other day, a bum asked me for a lifesaver because he had morning breath. Unfortunately I can't use that for any kind of advantage on my taxes. I'm Kristen Brand and I'm going to show you how to take a charitable deduction when you give a donation on your tax return. First off you've got to start giving your money to the right kinds of charities that actually are registered and can provide you with documentation for your tax return. You'll need to have letters that show the amount that you gave away. And there's actually a spot on the return where you can record this information. If you go to schedule A of the form 1040 and look down here, there's actually a spot for gifts to charities. You can list this information here and it will allow you to pay a little bit less tax at the end of the year. So if you're organized and give the money away to the right people, then you'll have a deduction for your tax return. And that's how to give a charitable donation for a deduction. I'm Kristen Brand and now you'll know."

eHow Article: How to Take Tax Deductions for Charitable Giving