Fall 2014 Newsletter: Beware emails from the “IRS.” Update_Fall2014.pdf

Summer 2014 Newsletter: Prepare for the Medicare surtax in your 2014 planning. Update-Summer2014.pdf

Winter 2013 CLIENT UPDATE Newsletter: Heath-care reform law gets underway for individuals. Update-Winter2013.pdf.

Fall 2013 CLIENT UPDATE Newsletter: Do you have obsolete inventory? Update-Fall2013.pdf.

Spring 2013 CLIENT UPDATE Newsletter: Tax legislation effects: Update-Spring2013.pdf.

Winter 2012 CLIENT UPDATE Newsletter: Year-end checklist for taxes: Update-Winter2012.pdf.

Fall 2012 CLIENT UPDATE Newsletter: Supreme Court upholds 2010 health care law: Update-Fall2012.pdf.

Summer 2012 CLIENT UPDATE Newsletter: Diversify investments by focusing on taxes: Update-Summer2012.pdf.

Spring 2012 CLIENT UPDATE Newsletter: 12 ways to improve your financial health in 2012: Update-Spring2012.pdf.

Winter 2011 CLIENT UPDATE Newsletter: Tax rules can provide relief when disaster strikes.  Update-Winter2011.pdf.

Fall 2011 CLIENT UPDATE Newsletter: New bonus depreciation rules.  UpdateFall2011.pdf.

Spring 2011 CLIENT UPDATE Newsletter: New tax rules offer opportunities. Are you saving enough?UpdateSpr2011.pdf.

Winter 2010 CLIENT UPDATE Newsletter: Small Business Jobs Act restores familiar tax breaks. UpdateWinter10.pdf.

Fall 2010 CLIENT UPDATE Newsletter: New 2010 tax credit available to small businesses.  ClientUpdateFall10.pdf.

Summer 2010 CLIENT UPDATE: Health care reform includes current and future tax changes.  ClientUpdate.pdf.

January 2015

What are the requirements to deduct charitable donations on my federal income tax return?

First, remember that your donations to qualified charities combined with your other itemized deductions (medical expenses, real estate taxes, state income taxes, mortgage interest, etc.) on Schedule A must be more than your Standard Deduction.

Second, you must have a record of the donation, like a cancelled check. If you donate $250 or more, you must get a statement from the charity.

Third, household goods must be in at least good used condition to claim a tax deduction. You should get a statement from the charity and note the fair market value or thrift shop value for the donated items, as well as your estimate of the items’ original cost.

Fourth, donations are deducted in the year you make them. Charging a donation to your credit card or mailing a check before the end of the year both count as donations this year.

Last, keep in mind that special rules apply when donating a car, boat or airplane to charity. 

If you have any additional questions, please contact your accountant at Wicks Emmett LLP for further information on charitable donations.



  1. Question/Answer Archives: 2013-2014

  2. Question/Answer Archives: 2011-2012

  3. Question/Answer Archives: 2009-2010