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Noncash Charitable Contributions

Noncash Contributions

Noncash charitable contributions are a good deduction if taken correctly. Here are 3 Rules to keep in mind.

  • Rule No. 1. The donation must be made to a qualified charity (no, your needy college kids do not count).
  • Rule No. 2. No deduction is allowed for a charitable contribution of clothing or household items unless the clothing or household item is in good used condition or better. In other words, you can’t take unusable items that belong in the landfill and deduct them as a donation. The IRS is authorized by regulation to deny a deduction for any contribution of clothing or a household item that has minimal monetary value, such as used socks and undergarments.
  • Rule No. 3. You must get a receipt to document your donation. In addition to the receipt, my wife regularly lists each of the donated items on a separate sheet of paper along with the following information.
    • Name and address of charity.
    • Date items were donated to the charity.
    • Description of each item donated.
    • Fair market value of each item at the time they were donated.
    We regularly take pictures of all items donated. The pictures serve the purpose of proving that the items were in good or better condition at the time they were donated.

Contact Us

Business Hours

  • Monday-Friday: 9am to 5pm
  • Saturday: Closed
  • Sunday: Closed

Why Choose Us?

  • CPA and former IRS agent on staff
  • Over 30 years in business
  • FREE business consulting
  • NO "set up" fee and no contracts
  • FREE tax strategies and advice
  • Phones answered "Live"
  • Work is GUARANTEED or we pay fines

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WHAT PEOPLE SAY

Don't take our word for it...

Thank you for your assistance. Your staff is always helpful and frienly, willing to resolve questions & issues, on time, and dependable. Thank you for the security of always having the accounting, tax, and payroll issues handled.

thumb Scot Poole
Manager, Ensign Financial Group, LLC

Ron and his staff are very knowledgeable in their field. I like that they offer all bookkeeping services in-house and have great customer service.

thumb Natalie McFarland
President, Urban Peach Boutique, Corp

Guide to Financial Planning

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Identify monthly outflows as living expenses, savings, and discretionary. Eliminate unnecessary expenses from the discretionary category. If further cuts need to be made, reduce living expenses by obtaining a less expensive auto or home. Reduce savings as a last resort. Track income and expenses monthly and review every six months...

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Identity Theft

Identity Theft and Your Taxes

  • Jan 2, 2016

Identity Theft and Your Taxes - Your identity and money can be stolen in a tax-related scam via email ("phishing"), fax, phone, or letters. Some recent examples of identity theft scams are...

Fraudulent Tax Returns - An identity thief might use your Social Security number to fraudulently file a tax return and claim a refund. You could be completely unaware that your identiy has been stolen until your return is rejected for e-filing or you get an IRS notice or letter...

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Payroll

We provide guidance on all of your payroll and quarterly tax issues. Our rates are cheaper than Paychecks, ADP, employee leasing programs and most all payroll services.

Bookkeeping

Our bookkeeping services include: Personalized QuickBooks training, Standard QuickBooks set-up, technical support, ect.

Tax Preparation

We provide tax and financial management services tailored to meet the needs of our business clients. All our Tax Preparation & IRS Help comes with FREE unlimited support.

The hardest thing to understand in the world
is the income tax

- Albert Einstein -