You probably know that giving money or goods to charity is a tax write-off. But do you know exactly what the IRS considers to be a charitable organization? According to IRS Publication 78, qualified organizations include:
- Churches, temples, mosques, synagogues, and other religious entities
- Nonprofit schools and hospitals
- War veterans’ organizations
- Nonprofit volunteer fire departments and civil defense organizations
- Public parks and recreation facilities
- Certain organizations related to national or international amateur sports competitions
- Organizations operated for charitable purposes, like the Red Cross and Goodwill Industries
If you’ve kept track of donations to these or other IRS-recognized charitable organizations, you can deduct that money on your tax return. Taxation Solutions, Inc. is standing by to assist you with determining what deductions you can claim, as well as with dealing with any fallout from improper deductions.
We’re an experienced tax help firm serving individuals and businesses in and around Cincinnati, and we work hard to give our clients accurate and effective services. Call us today to discuss your needs!