When Non-Profit Contributions Are Quid Pro Quo
Charitable contributions are not always eligible for tax deductions — even when the non-profit recipient is tax exempt and the donor itemizes. Take ‘quid pro quo’ donations. These transactions occur
Charitable contributions are not always eligible for tax deductions — even when the non-profit recipient is tax exempt and the donor itemizes. Take ‘quid pro quo’ donations. These transactions occur
You have probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. However, be aware that donating
Non-profits often struggle with valuing non-cash and in-kind donations. Whether for record-keeping purposes or when helping donors understand proper valuation for their charitable tax deductions, the task is not easy.
If you are charitably inclined and you collect art, appreciated artwork can make one of the best charitable gifts from a tax perspective. In general, donating appreciated property is doubly
Your non-profit probably already ensures that donors receive a receipt with information about claiming a charitable contribution deduction on their tax return. However, your obligations may go further than that.