There Is No Tax "Season"
Keeping track of tax-related transactions throughout the year can save you from having to take a whole Saturday or, worse, a weekend to reconstruct the details later, and now is the perfect time to set up a system. For less hectic tax seasons in the future, start with these three basic moves for organizing your charitable contributions:
1. Keep your receipts. File documentation using a folder system labeled to match the categories you'll be using for taxes, such as cash donations, household items and gifts of stock.
2. Transfer records to financial planning software. Enter the information from your folders electronically throughout the year so you're not doing it all at once when April 15 is fast approaching. Doing so will also help you gauge whether to give more at year-end to maximize tax benefits.
3. Don't forget to claim deductions based on travel. Record vehicle mileage and other travel expenses when incurred for charity.
Contact Office of Gift Planning at Toll Free 800-800-9583 or 503-294.7101 or email@example.com if you have questions about receiving your entitled benefits when supporting our organization.
|Take our quiz on donations and record keeping.|