Before I begin this post, let me just say that since October is both Breast Cancer Awareness Month AND Domestic Violence Awareness Month, I urge you to look through my past posts and to continually keep these causes in mind during October (and hopefully during the other 11 months of the year).
I decided to post today on ways your charitable contributions can also benefit you. Yes, I believe that we should give because we have been given, and that “to whom much has been given, much will be required.” But I also stress that you should keep track of any chartiable contributions you make. Any donation, so long as it is money or something physical or tangible, can be deducted from your taxes. See, here’s how it works: you give to someone else, the government gives to you. Simple, right? But there are a few things to keep in mind:
- You must itemize your deductions. I take my taxes to an accountant, along with a huge envelope of receipts and check stubs, but if you do your own taxes (you must not have student loans, believe me, they make taxes impossible to do yourself!), you can claim your deductions on Form 1040, Schedule A. So be sure to keep your receipts, and ask for documentation when donating!
- You must actually donate cash or property (Pledging doesn’t count until you actually pay).
- You must contribute to a qualified tax-exempt organization. Every organization should be able to tell you if they are tax-exempt.
- You must be able to itemize (Ex: if you take clothes or furniture to the Salvation Army, they will sign off on an itemized list of your items, but not just a blank form).
- You must be able to back up your itemizations with proper records and documentation. Like I said, keep all of your receipts, otherwise it won’t count.
For more explanations and examples, CLICK HERE. All advice was taken from word-of-mouth and about.com.
What questions do you have about tax deductions and charitable contributions?
-C-



There’s bad news today for pessimists, but they were already expecting that. According to a new study, women who are optimists live longer than those who are pessimistic.
COTW: RAINN
2 09 2009I know I have been MIA lately and I apologize profusely. I am in the midst of moving and just found out we’re changing our move date to TOMORROW instead of Friday, so this is my 5 minute break from running around like a chicken with my head cut off we moved a day earlier than planned, so I had taken a bit of time to post a Charity of the Week. (Also, I apologize for not posting anything, even a charity, last week.)
The Charity of the Week this last week (but let’s carry it into this week) is:
My good friend Mel suggested this cause to me (suggestions/comments/questions are always welcome!) and I had to move it above a couple of other philanthropies on my list. It is such a good cause and yet another way that we can all help, whether by giving money, time, or just by spreading the word. Christina Ricci is the spokesperson for RAINN, and I have tremendous respect for her. I have tremendous respect for any actor or celebrity who use their fame for good.
Since school is starting this month, RAINN is presenting National Campus Safety Awareness Month. Let’s promote campus safety as students go back to school. Encourage college-age women you know to carry their cell phones and keys with them when they leave a building (rather than become distracted by digging through their purses), to use the buddy system, and to always let people know where they are going and when they plan to return. Small acts such as this that are normally taken for granted could save lives.
So this week (and month) let’s spread the word for RAINN.
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