Tax Musings of a Burbank CPA: How to Donate Property

There are ways to donate property and ways to not donate property.  See this article by Ken Berry in AccountingWeb for some do’s and don’t's for when you do donate property:

http://www.accountingweb.com/article/how-donate-property-avoid-tax-punishment-good-deed/224119

Just remember the keys; proof of the donation, proof of the value, and if a particular type of property donation is over $5,000, you need an appraisal and acceptance by the charity of receipt of the property.  Follow the rules and you could get yourself quite a tax deduction.

Charitable DonationsDollar Mag Glass For financial,  accounting and tax musings,

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