You have your checks and donation letters lined up to give to your accountant for your taxes. But are these the only donation deductions you are entitled to?

One item you probably already know about are noncash donations to charities that you drop off or they pick up. It is important to get the charity receipt as well as keep a list of items you donated and estimate the original cost of the items as well as the actual fair market value, which is the tax deduction (many charities will give you the fair market value estimate of the items, if not, a good rule of thumb is around 10% to 20% of the cost of the items, depending on how old they are.) If you are making a large donation of furniture, clothing, appliances or miscellaneous stuff, taking photos of the donation will help justify the deduction!

Other items you may not of thought about are travel and out of pocket expenses of being part of a charitable function. If you are a member of Kiwanis, Rotary of other non profits, or some of your kids are involved with school sports or singing competitions and other afterschool programs affiliated with a public school, these expenses can be a charitable deduction (check with the school to verify the group as directly affiliated with them.) Food and other items purchased and given to fundraisers (silents auctions, raffles, walkathons and breakfasts, to name a few) and meetings, plus travel expenses and some overnight expenses (if it is directly related to the charitable activity) can be a charitable deduction. Also fees to the school for the actvities can be a donation. Keep receipts and check with the charity to make sure the meeting or activity is directly sanctioned by them. Also try to get a donation letter from the school or organization for fees or memberships paid to the group.

These items can save you a fair amount of taxes if you follow the rules. Let me know by phone or email if you have questions.

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