How to Claim Tax Deductible Charitable Donations

2020 Guide: Tax Deductible Charitable Donations

Today we’re going to be going over everything you need to know about tax-deductible donations. We’ll be covering what types of donations are eligible, how to claim your deduction if it even makes sense for you to donate for tax purposes... and everything in between.

Note that for guidance or advice specific to your situation, you should consult with your tax or legal professional.

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).

[pfguo]

really wish there were examples with numbers to make things clear.
Example (not sure if this is true or not):
1. You have $100k, you are taxed $30k normally, you are left with $70k take home.
2. You have $100k, you donate $20k and get XX tax deduction and only have to pay $5k in taxes, you are left with $75k take home, thus it is more beneficial to donate.

[MA-hdor]

best donation related tax video I have ever watched.

[azukarzuchastux]

John 3:16
“For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.”

[MrMarkwill]

Great video and informational as usual...How about some info on Gifts for the 2021 year

[jorgesalcedo]

I like the video & information. One thing you can work on or the video I must say, is just lowering the background music just a little.

My adhd Ming was taken over by it.

[freewaterfamilynetwork]

Great video! Would you guys be interested in talking on a podcast?

[coreycrowder]

Good info got to kill the background noise though

[cloudtheavegner]

So if I make $10 M for my gross adjusted income and half gets taxed right off the bat, if I donate the entire $5 M, will I get $5 M back come tax season? Provided I don’t exceed the cap.

[halalaffirmations]

Does this rule apply to Schedule C as sole proprietors, or can we deduct the full amount as business expense?

[cuzcuzz]

Go fund me ? I'm thinking of donating in the donators name to a go fund me account for the person it's for so that I can garantee the possibility of using it as tax deduction? Like setting up coin jars at local bodega with info on it and when the money is collected donate it directly to go fund me in that company name will they be able to utilize that ?

[ochicoloto]

Thanks. Howmuch max can I deduct for non cash payments?

[israelruiz]

Okay so I bought a charity item for $695 and got a federal tax receipt. I added the amount on turbotax but it didn't deduct it from my tax total. And it didn't ask for proof so what should I do there?

[twins]

How do I give a home that needs renovation to a charity. The house is paid for, but taxes are owed?

[jalenwesley]

I still don’t understand what you get back after donating

[HxMancia]

Are cash donations to a church only eligible to be claimed on state tax? Or can I use it on the federal portion too?

[Lookout]

Hey so I want to give out $1000 once a year to one child at my local Salvation Army community center . Does that act qualify?

[ZRO]

Can self employed people deduct from donating as well?

[maj]

i just donated to UNISEF via online payment, but didn't recieve a reciept...how do I show proof ?

[jsksksksk]

My friend, concerning charitable donation under standard deduction. I understand the $300 limit. What I am not sure about is the noncash donation. In other words, can I make noncash donation to qualified charities? Thx

[janettripper]

What if you donate from your savings or social security payments, but your income is therefore zero, yet u pay property taxes?