by Kristin P. Sinclair – A Accu Tax – May 6, 2021
For Tax Year 2021 Gifts to Charity has a whole new potential that so many more folks can beenfit from when they complete their tax return. Even when you do not itemize, it is possible to get some tax advantages from giving to certain charities. When you do itemize that to is possible.
You gift one of your favorite charities let’s say you have special place in your heart for the great work being done by, Feeding America and the gift of cash in the form of the check you send along with your written statement. Your check is for $150.00. You want to have a record. And of course when you are sent your thank you letter acknowledging the gift you keep that acknowledgment letter for your tax files. Write your check number on the acknowledgment as well.
You also have some other favorite charities and You have decided to donate to your Nature Conservancy charity, and in turn for your donation they are going to send you a reusable bag that you intend to take on your grocery shopping trips along with you other reusable bags. You send your cash gift in the form of a check to Nature Conservancy in the amount of $100.00 and they send you the reusable bag that you get to display each time you use that bag. If you simply keep the bag in a safe place that too is okay. That non profit logo design bag; that they have valued at $10.00 along with your thank you acknowledgment is still your gift to say thank you for being generous.