IRS donations to Vietnam Veterans are not only a great way to extend our help, but these also allow us to enjoy certain tax deductions for the year. But, these tax deductions from your IRS donations to Vietnam Veterans involve certain legal qualifications, wherein your tax statement forms and charitable donations should satisfy. That's why you should always refer to IRS deduction rules for every donation you make.
The population of homeless veterans in the United States today is more or less 40 percent. It's a sad reality, but there's still something that we can do to repay their invaluable services to our country - that's through our tireless donation supports such as our IRS donations to Vietnam Veterans. If you find the time to surf through the internet, you can see that some of these organizations have online donation forms that you can fill-up for your pledges.
Donations could come in three different forms: car donation, clothing donation, and monetary donation. Whatever form your donation might come, it can't be helped that we have to touch legal matters like what is stated in the IRS donation rules.
Under the JOBS law signed by President Bush in 1994, the amount of tax write-off you'll get from your donated vehicle will depend on how the non-profit organization will use it - we're talking about a car donation above $500. You'll only get your vehicle's fair market value if the organization will use it for legal and tax-qualified charity works. If not, you'll only get a total tax deduction based on the gross amount that the charity organization has received when they sold your car.
First of all, the clothes you'll plan to donate should be in an extremely good condition; otherwise, it will not qualify you to get any tax deductions. Most organizations prefer to receive clothing that includes: work or school clothes, sweaters, shoes, and other warm clothing. Remember to always get your receipt from the charity organization that completely states their full organization name, the where and when details of the goodwill donation, truthful and realistic account of your donated used clothing. The IRS 1040 form should also be filled up to place the full amount of your clothing donation deduction.
Financial donations are commonly in the forms of cash, salary deductions, credit cards, and checks. Always keep track of your donations by keeping account statements from any of the examples mentioned (it should clearly state the amount, transaction date, and name of your beneficiary). For small cash donations, non-profit organizations usually give out miniature tokens like button pins - keep it because these are also a reliable record of your contribution.
With IRS donations to Vietnam Veterans, you strictly need to follow the established contribution guidelines and rules if you're really serious in getting the right amount of tax deductions for the year (don't forget to get all the paper works done!).
Fay Salmons writes about IRS donations to Vietnam Veterans at www.greatcharitywork.com
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