December 11, 2009

ANNOUNCER:

IF YOU’RE PLANNING ON DONATING TO CHARITY THIS HOLIDAY SEASON, DON’T FORGET TO KEEP YOUR RECEIPTS.  THE AMERICAN BAR ASSOCIATION IS REMINDING TAXPAYERS THAT YOU CAN DEDUCT MANY CHARITABLE CONTRIBUTIONS ON YOUR 2009 INCOME TAX RETURNS, AND THAT MONEY CAN ADD UP.  CHARLIE EGERTON IS CHAIR-ELECT OF THE A-B-A TAX SECTION.

CHARLIE EGERTON, CHAIR-ELECT, A-B-A TAX SECTION:

“You have until December 31 to make cash or other contributions to charitable organizations such as places of worship and non-profit community groups.  The groups must be qualified by the I-R-S.  When you complete your 2009 income tax return, you’ll need to itemize your deductions.  To claim the deductions for small cash contributions, keep a cancelled check or receipt that lists the contribution amount.  For larger contributions, or if you’re donating property, you’ll need a written communication from the organization, special rules apply if you donate a car.” 

ANNOUNCER: 

MORE INFORMATION ABOUT TAX DEDUCTIONS FOR CHARITABLE DONATIONS IS AVAILABLE ON THE A-B-A TAX SECTION WEB SITE, WWW.TAXTIPS4U.ORG.