Can't tell you how often I am asked this question. Or the other answer when I ask clients how much they contributed: "About the same as last year." Neither answer works!
You need to have receipts for all contributions. You can no longer count the $10 each week at church. You must get a statement from the charity indicating how much you contributed.
You can deduct up to 50% of your income, so if you have the receipts, take the deduction. But remember, if you cannot produce the receipt, the IRS may eliminate your deduction. As always, please call (949) 683-8111 or email us at info@southcountycpa.com if you have any questions. We are here to help.
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